(ET)
The power ministry proposes to conduct reverse e-auction to select gas fired stations that will be offered subsidized imported fuel under a bailout package for 24,000-MW stressed projects. The power plants are proposed to be run on imported LNG to be made affordable through haircuts by central, state governments, power companies and gas transporters, sources said. The ministry will soon approach the Union Cabinet to seek approval for the scheme recommended by a high-level empowered committee on stressed assets, they said. The proposal, for three years starting this fiscal, is an extension of the previous rounds of subsidized gas auction schemes to power plants.
