Prime Minister Sheikh Hasina has announced that area-wise load shedding schedule will be announced soon to tackle the ongoing electricity crisis.
"Load shedding is the only way available given the circumstances. Every area will be let known in advance when load shedding will take place," the premier said while speaking at the inauguration of Sheikh Kamal IT Business Incubator at Chittagong University of Engineering and Technology through video conferencing on Wednesday (6 July) morning.
"Given the ongoing fuel crisis in the country and all over the world, proper load management is the only way to deal with the situation," she added.
"America has imposed sanctions on Russia, Europe has imposed sanctions as well; As a result, oil prices are rising, fertiliser prices are rising, food prices are rising, ship fares are rising. It is impacting the whole world. Bangladesh is affected by it as well," she said.
"Bangladesh is moving forward by tackling the effects of the ongoing Russia-Ukraine war and the coronavirus pandemic," PM Hasina added.
She said that the country has to move forward by tackling all obstacles.
Dhaka, along with the rest of the country, are now bracing for more frequent power cuts. Power generation has decreased by an average of 2,000 MW per day.
Most of the gas-fired power plants have to be shut down, while private power plants are also on the brink due to rising global oil prices.
The situation is even bleaker outside the capital. The most affected districts are in Mymensingh division, while load shedding has also increased in Chattogram, Sylhet, Rangpur, Thakurgaon, Rajshahi, Gaibandha, Lalmonirhat and Dinajpur, Habiganj, Moulvibazar, Sunamganj, Noakhali, Feni and Chandpur.
Power disruptions are not rare in countries around the world that have all been hit by the gas crisis following the Russia-Ukraine war. Most are turning to proper load management.
Energy experts said a proper and planned load management of the current energy supply could lessen the suffering of the people. Proper load management is the only way to deal with the current gas and power supply cuts as no other visible initiatives are being taken.
Gas prices in Europe and Asia surged more than 60% in the weeks since an important liquified natural gas facility in Texas temporarily shut down. Gas prices have soared since the start of last year, jumping as high as 700% in Europe.
Germany said the gas shortfalls could trigger a Lehman Brothers-like collapse, as Europe's economic powerhouse faces the unprecedented prospect of businesses and consumers running out of power, Bloomberg reported.
The main Nord Stream pipeline that carries Russian gas to Germany is due to shut down on July 11 for ten days of maintenance, and there is a growing fear that Moscow may not reopen it.
Bangladesh Power Development Board (BPDB) said there was a maximum of 1,400MW load shedding at 9pm on Monday in different parts of the country.
Officials at Petrobangla said that the only remedy is meeting demand when fuel price falls in the global market.