India, May 23 -- The recently released paper by International Energy Agency (IEA) and the Foundation for Interoperability in Digital Economy (FIDE) on a vision for a Unified Energy Infrastructure (UEI) has generated enormous interest and possibilities of UEI becoming the UPI moment unlocking millions of digitised energy transactions in the sector. However, before we try to answer the question, it will be useful to understand the basic tenets of UPI that led to its unprecedented success and to assess if a similar case exists for replication in the energy sector.

UPI was set up around three pillars; (a) Unique digital identity linked with Aadhar; (b) Seamless digital connectivity by smart phones; and (c) A fully functional marketplace with...