Energy management principles:
The Act makes it mandatory to obtain permits prior to producing electricity or providing electricity services via a grid, for business purposes in Maldives. Licenses for service producers producing electricity as a utility service are to be provided after a bidding process, with exemptions provided to state-owned enterprises. The Act also makes it mandatory to obtain a license to provide power engineering services. --- The Act requires service providers engaged in petroleum products to obtain licenses for the following:
Exploration, extraction, refining, importation, exportation and storage of petroleum products.
Wholesale and retail of petroleum products;
Owning and operating vehicles and vessels used for transportation of petroleum products. ---
The Act states that priority is to be given for local inventions used in the production and distribution of electricity. Further, preference is to be given for local employees. Maldivians and local companies are to be prioritised for projects. However, no specific restrictions have been specified in the Act.
National policy structure:
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.
Energy institutional structures:
The Utility Regulatory Authority is empowered to determine ceiling prices for electricity services in locally inhabited islands and any fee for such services can only be charged in accordance with the regulation made pursuant to the Act. --- The Act mandates the Ministry to initiate projects in relation to economising and increasing efficiency of energy usage.