The government today finalised details of a package to rescue 16,000 MW of gas-based power plants lying stranded as it looks to increase supplies by raising generation without burdening consumers.
Power Minister Piyush Goyal met Oil Minister Dharmendra Pradhan to chalk out the rescue package that may involve rescheduling of loans to power companies as well as making available fuel at affordable price through means like pooling of average cheaper domestic gas price with costly imported LNG. The two ministers did not divulge details of the rescue package finalised today which may need the Cabinet approval.
"Today's meeting was a precursor to final decisions which will be taken very fast," Goyal told reporters here after the meeting. "We are drawing up plans to increase the generation of power, to put national assets to good use and keep the energy cost affordable with a sustained policy framework," he added.
Pradhan said the government is taking a comprehensive view of the variety of problems plaguing this industry for a long time. The issues of making power available to the people and addressing peak load shortages were also discussed in the meeting.
When asked about the decision on gas price pooling, Goyal said, "We looked at all options including problems of gas-based plants...macro issues have been taken care of," he said without divulging further details on the subject.
"We have decided to resolve all the problems, from bankers issues to fuel issues," Goyal said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
