In a big relief to private power companies, the government is working out a gas allocation mechanism for electricity generating units by pooling ONGC deep sea gas with LNG and subsidising the tariffs to revive about 25,000 mw projects.
India has currently nearly 25,000 mw of operational gas-based capacity, all of which is stressed because of gas unavailability.
The scheme, being discussed at the level of cabinet secretary-led high-level empowered committee, is proposed to be operated for next two financial years. The committee to address stress in the power sector due to fuel unavailability and regulatory issues is slated to meet on November 6. Read more
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