The latest draft of China's first energy law calls for the creation of a new ministry of energy, state media reported, quoting a source who worked on the draft. The government's energy policies are currently regulated by several agencies, including the energy bureau of the National Development and Reform Commission and the State Electricity Regulatory Commission among others. Experts said the creation of a single central government ministry will help Beijing reach its goal of cutting energy consumption per unit of gross domestic product by 20% by 2010. China is currently the second-largest consumer of energy in the world and is set to surpass the United States by 2030, according to the International Energy Agency. A ministry of energy previously existed between 1988 and 1993.