Evolution of Policies of Indian Power Sector

Brief summary showcasing various acts being enacted from time to time showing how the Indian power sector evolved from a cocoon of a monopolistic environment to developing to a perfectly competitive environment. The regulation of the power sector was transferred from the confinement of the Centre and State Governments to independent bodies. The Electricity Act- 1910 laid the foundation of a legal framework, the Electricity (Supply) Act- 1948 paved the way for a contiguous Grid System, the Electricity Regulatory Commission Act- 1998 created independent bodies to formulate policies to make the Indian Power Sector more efficient and finally the Electricity Act- 2003 converted the Indian Power sector to a market with potential for investment by private parties giving rise to competition, efficiency in operation along with safeguard of consumers.