The State-run NTPC will not suffer Rs 30,000 crore loss if it was to get natural gas at prices higher than those committed by Reliance Industries five years ago, Power Ministry has told Parliament.
"There is no loss to NTPC on account of fuel cost as the fuel cost is a pass-through to beneficiaries (customers)," Minister of State for Power Bharatsinh Solanki said in a written reply to Rajya Sabha.
It has finally reiterated RIL’s stand that there is no justification for NTPC to talk about the savings of Rs 30,000 crore when it is buying gas at USD 11 per mmbtu when it can get gas at USD 4.2 per mmbtu from RIL’s KG D6 basin.
NTPC had taken RIL to court seeking implementation of the Mukesh Ambani-run firm's 2004 bid to supply 12 mmscmd of gas at USD 2.34 per mmBtu for 17 years.
"NTPC's tariff is determined by Central Electricity Regulatory Commission (CERC). As per the regulation for fixing the tariff under the Electricity Act 2003, the fuel cost (price of gas) is a pass-through to beneficiary states/union territories who in turn realise this from consumers," he said.
Source: PTI
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