SINGAPORE : Bangladesh is facing its worst electricity crisis since 2013, a Reuters analysis of government data shows, due to erratic weather and difficulty paying for fuel imports amid declining forex reserves and value of its currency.With forecasts for more heatwaves and the peak power-use months of Ju
SINGAPORE : Bangladesh is facing its worst electricity crisis since 2013, a Reuters analysis of government data shows, due to erratic weather and difficulty paying for fuel imports amid declining forex reserves and value of its currency.
Bangladesh, the world's second-largest garments exporter behind China supplying global retailers including Walmart, H&M and Zara, has been forced to cut power for 114 days in the first five months of 2023, a Reuters analysis of power grid data showed.Power cuts have been most widespread in the late evenings and early mornings, data from the Power Grid Co of Bangladesh showed, with residents and small businesses complaining of unannounced power outages lasting 10-12 hours.
Bangladesh's state petroleum firm wrote to the power ministry in late April and early May, warning of inability to pay Sinopec, Indian Oil and Vitol for fuel supplies due to a shortage of U.S. dollars, as well as an"alarming decrease in fuel oil reserves." Power output from coal and liquid fuels has risen at the expense of gas-fired power generation, resulting in higher average power costs, the data showed.
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