Replying to questions in the Rajya Sabha, the minister said the deadline was fixed at a meeting of power ministers of all states as some states had more losses than others.
He cited the example of Uttar Pradesh which has suffered a lost of 21 per cent.
He said the main reason for power losses were theft and unmetered supply of power.
"After that we will bring a regulation under which power losses of over 15 per cent will not be accepted in the power tariff. All state power ministers agree to this and we have set this deadline," he told the House.
He said in an ideal world, the power losses should be down to 5-6 per cent. "But this is not an ideal world and power theft does take place and unmetered supply of power is there."
He said that a few weeks ago the government formally issued bids. "In the next three months, we are going to have bids for about 7,000 gigawatt more. Next year, we are going to have bids for 30,000 gigawatt and the year after that we are going to have bids for 30,000 gigawatt more," he said.
The minister said that apart from bids for floating solar power plants for which the government has assessed the potential, "we have sent teams to assess the potential in huge water bodies in Bhakra Dam, etc.
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