The National Energy Authority Bill, 2020 was passed by the National Parliament with an overwhelming majority of 73 to 0.
The National Energy Authority Bill was created to control renewable and non-renewable energy production, storage, delivery, and retailing.
The Act will also cover the following functions:
- Governing the oil market by overseeing the implementation and implementation of rules, legislation, and policies.
- Levies, fines, tariffs, and other charges are received and collected.
- Responsibilities for energy research and development in order to put energy policy and legislation into practice
- The aim of the Act Administer the National Electrification System is to approve the corporate policies of subsidiary corporations and affiliates
- Administrate the National Electrification Trust Funds
The Bill for an Act to Reform the Electricity Industry Act 2020 was also passed.
The National Energy Authority 2020 and the Electricity Industry Act Amendment Bill 2020, according to Minister for Energy and Rural Infrastructure Saki Soloma, are the culmination of the work undertaken so far in restructuring the energy market.
He said that the passed Act of Parliament would create energy and electricity industry legislation for the energy sector in general.
According to him, the National Energy Authority Bill 2020 establishes a robust and equitable legislative framework, with fines imposed on those that violate the Act and regulations.
He went on to say that the Electricity Industry Act (Amendment Bill) contained consequential changes to the Electricity Industry Act, allowing the National Energy Authority Act, which was passed by Parliament, to go into effect right away.
The National Energy Authority Bill 2020 is based on the same model used for the establishment of stationary authorities such as the National Fisheries Authority, National Information and Communication Technology Authority, and others, according to the explanatory notice.
It specifies that the National Energy Authority is a policy and regulatory agency, not a commercial institution, as stated in the Act. PNG Power Limited will no longer be an economic or technological authority and the NEA will conduct the licensing and technical functions that were formerly handled by PNG Power Limited.
