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ABSTRACT
Power sector reform, which circumscribes independent regulatory commission, unbundling of the State Electricity Boards (SEBs), and eventual privatization, has been the dominant theme in the Indian economic policy discourse and power sector. In India, the power sector reforms were initiated in 1991 and began with the concurrence of the private investors in generation, and then centralized on the unbundling of vertically integrated utilities. In this paper, an attempt has been made to analyze the changing importance of energy conservation and efficiency measures been initiated in India between 1970 and 2013. The study also examines how far the reform process has been effective in realizing its set objectives and ameliorates the development of the power sector and the nation unrestrained. The paper briefly discusses the issue involved in the introduction of competition in the power sector primarily through the development of a market for bulk power, and a careful comparison of the costs and benefits of the old regulated system and the new deregulated system is made.