Reverse E-Bidding to ensure adequate Fuel Supplies for Gas based Power Plants: Goyal

The Dollar Business Bureau (sourced from PIB)

Three phases of auction of e-bid Re-gasified Liquefied Natural Gas (RLNG) have been completed so far and 4th phase is presently under operation from October 1, 2016 to March 31, 2017. Under the 4th phase, Power System Development Fund (PSDF) support ranging from Rs.0.21 per unit to Rs.0.22 per unit has been secured by the successful bidders in the reverse auction. Piyush Goyal, Minister of state (IC) for Power, Coal, New & Renewable Energy and Mines said this in a written reply to a question in Lok Sabha on Thursday.

The Minister further informed the House that the Government has sanctioned a scheme for importing spot Re-gasified Liquefied Natural Gas (RLNG) in 2015-16 and 2016-17 for the stranded gas based power plants as well as for plants receiving domestic gas up to the target Plant Load Factor (PLF), selected through a reverse e-bidding process. The scheme provides for financial support from PSDF (Power System Development Fund).

The Minister further said that the scheme envisages sacrifices to be made collectively by all stakeholders, including the Central and State Governments by way of exemptions from applicable taxes and levies/duties on the incremental RLNG being imported for the purposes.