Nepal, March 8 -- Nepal's monarchy reformed more frequently in its history than Nepal's electricity sector has done in its. And we all know where the story of the monarchy ended.

A draft proposal to replace Nepal's Electricity Act 2049 with a revised Electricity Act 2080 was introduced in parliament late last year. The Electricity Act 2049, promulgated in 1992, established the sector's structure, rules, operations and governance. The core framework of the Act has endured since then, though several developments, such as electricity trading, have pushed into certain areas. A revised Act is critically needed.

The proposed new Act is currently under consideration with the Infrastructure Development Committee of the federal parliament, where...