President Ibrahim Mohamed Solih has ratified the Maldives Energy Act (Law no.: 18/2021). The Bill was passed by the Parliament at the 16th sitting of its third session of this year, on Tuesday, 21st September 2021.
The Maldives Energy Act establishes a legal framework of standards and laws for the provision of energy in the Maldives, dealing with both the production and consumption of energy. This Act establishes the rights of consumers and the rights of service providers, including the quality providers must uphold and the responsibility to price reasonably. Furthermore, this Act covers enhancing energy in order to establish energy services that are sustainable and safe for the environment. In this vein, the Act stipulates tolerance for climate change and awareness of the carbon footprint, indicating measures to reduce expenditure and promote greener methods and technology of generating and disseminating energy.
The purpose of this Act also stipulate the safe, secure and suitable storage and maintenance of energy-related, along with the rights and obligations of energy users and providers. The Act lays down the policies for granting energy service provider licenses, and the transition to a renewable-energy based economy and meet the Maldives’ carbon-neutral goals. It further outlines regulations for taking action against individuals who intentionally damage energy resources and services, as well as against inadequate energy service providers.
With the ratification of the Maldives Energy Act, (Act no. 4/96), the Public Services Act will be nullified. Furthermore, within 12 months of the Act's effective date, the regulations adopted under it should published. Upon ratification, the Act has now been published in the Government Gazette and takes immediate effect.