Power Ministry to soon put up Tariff Policy for Cabinet nod

The Power Ministry is at final stages of framing the new tariff policy, which will soon be placed before the Cabinet for approval, said Power, Coal, New & Renewable Energy Ministry Piyush Goyal.
"We are finalising the contours of the (power) tariff policy. We will soon take the proposal for tariff policy to the Union Cabinet for approval," Goyal said addressing an Assocham event here.
The central government had approved the Tariff Policy under the provisions of Electricity Act, 2003, in 2006.
The minister suggested that the new tariff policy will provide incentives to renewable energy projects as well as efficient use of resources by power generation plants based on conventional source of energy like coal-based thermal projects.

Citing an example, he said the proposal provides for incentive coal-based projects using recycled and used water instead of fresh water which can be supplied to a sizeable population.
The minister also said the government is looking to bring down the price of LED bulb to Rs 44 per unit under its bulk purchases through competitive bidding.

In the latest round of bidding for the bulk LED bulb order, the price of Rs 74 was discovered, which is way below the initial target of Rs 99 per unit.
These bulbs are available at a price of Rs 275-300 per unit in the market.

The government is providing LED bulbs to consumers under a scheme where one can make payment in EMIs through electricity bills.
The minister said 13.46 million bulbs have been distributed so far and the government has set the target of 700 million bulbs in the next two years and nine months.
The minister also said the government will very soon resolve the issues related to Teesta power project in Sikkim which is holding back an investment of around Rs 9,000 crore.