The power ministry is likely to approach the Cabinet within a month
on the issue of amending the Electricity Act 2003. "We have received
feedback from all the stakeholders, we will compile all the suggestions, analyze it and then send it to the Cabinet for approval," a Power
Ministry official said, adding that this process will take about a
month.
He declined however to elaborate upon the changes that the government intends make to the Act. Stakeholders who have submitted feedback on the topic include Central
Electricity Authority (CEA), Central Electricity Regulatory Commission
(CERC), Principal Secretaries of all the state governments and
chairpersons of power generation, transmission and distribution
utilities.
The government-appointed committee, chaired by power ministry
Jyotiraditya Scindia, during its meeting in June this year, had
deliberated on amendments to the Electricity Act. According to various sources in the ministry, one of the suggestions
made by the committee is to have a formula which would ensure that
variation in fuel and power purchase cost is recovered by the power
generating firmsThe advisory group was set up against the backdrop of multiple
problems, including acute fuel shortages, hurting power generation in
the country.
Members of the group include Tata Group chairman Cyrus Mistry,
Reliance Group chairman Anil Ambani, SBI Chairman Pratip Chowdhary and
ICICI Bank Managing Director Chanda Kochhar.
Source- PTI
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