New Delhi: As part of the scheme approved by the Cabinet, a subsidy of up to Rs 7,500 crore will be provided to private power companies in the next two years.
As many as 31 power stations with a combined capacity of 14,305 megawatt, which are languishing for want of gas, can bid support from the Power System Development Fund (PSDF) for generating 30 per cent of their installed capacity, called plant load factor or efficiency, with imported liquefied natural gas (LNG).
Power Secretary P K Sinha said power companies seeking the lowest support from PSDF, after considering an electricity tariff of Rs 5.50 per unit, will get the first right over LNG, whose delivered price too will be slightly reduced by asking importer and transporter to take a hair-cut in marketing and operational cost.
The Cabinet Committee on Economic Affairs (CCEA) approved a financial assistance scheme for private power companies for two years, with Rs 3,500 crore of support capped for 2015-16 and Rs 4,000 crore for the following year. While private power stations will bid for the financial support, the actual money from PSDF, which collects fines from states for grid indiscipline, will go to the distribution company.
