POWER

Centre disagrees with UP’s e-bidding plan among IPPs for rebate on dues

The Central government disagrees with a recent proposal by Uttar Pradesh to conduct unique online auctions among power plants under which the state seeks rebates in power bills from private producers to disburse payments faster.

“The Union power ministry is clear that nobody can alter contracts like this,” a government official said adding that the ministry will soon communicate its stance to Uttar Pradesh.

Uttar Pradesh additional chief secretary Arvind Kumar recently wrote to Union Power Minister R K Singh and Union Power Secretary Sanjiv Sahai seeking the Centre’s support for the proposed e-auctions. The move, being the first time ever by any state asking power plants to bid to get payments for power supplied, took the power industry by surprise as well.

The payments are being done through loans being provided by Power Finance Corp and REC Ltd under the Centre’s Rs 90,000 crore liquidity infusion package under Atma Nirbhar scheme.

Source
ET Energy World
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close