Rapid capacity additions and improved efficiencies in electricity generation, transmission and distribution, are still absent or inadequate. The Electricity Act, 2003 introduced concepts not formally recognised earlier—competition in electricity, safeguarding consumer interests, encouraging investment, captive generation, merchant power, electricity trading, electricity exchanges and markets, consumer choice, open access to transmission and distribution wires, tariff-based bidding and independent Central and state regulatory commissions. Measures were also introduced to promote larger capacity generation, guarantee coal availability and encourage renewable energy. This volume helps to improve understanding of the ways in which these ideas were implemented and can be used.

S.L. Rao has worked in multinational companies, was President, All India Management Association (1985), Executive Chairman, National Management Programme (1986-1988), Director-General, National Council of Applied Economic Research (1990-1996) and first Chairman of the Central Electricity Regulatory Commission (1998-2001). He is presently a columnist in the Telegraph and Deccan Herald. He has 15 books to his name, on the economy, markets, energy, management, management education and governance, and innumerable articles. He is on many Boards of corporate, research, cultural and development organisations.