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Friday, September 25, 2020

Govt issues clarification: 2018 GR revoked in consumers’ interest

Gujarat Energy Minister Saurabh Patel said, “It has been revoked in order to cut down the costs and pass on the benefit to the consumers. However, we cannot put a percentage to the benefit as the coal prices are subject to fluctuation.”

By: Express News Service | Ahmedabad | July 20, 2020 3:48:59 am
 Saurabh Patel, Gujarat Energy Minister gujarat gr resolution, gujarat gr resolution revoked, gujarta gr resolution 2018, gujarat coal prices, indian express news Gujarat Energy Minister Saurabh Patel (File)

The state government in a clarification issued on Sunday stated that the Government Resolution (GR) of December 1, 2018 has been revoked in the consumers’ interest.

The state government said that the decision has been made “considering the subsequent developments, changed market trend of Indonesian coal price post 2018 wherein other Market Index of repute have been included for computation of coal price in order to safeguard the interest of consumers… This will ensure procurement of coal by project developers in competitive manner at lowest possible rates and the benefit of reduced coal price from time to time would be passed on to the consumers”.

Gujarat Energy Minister Saurabh Patel said, “It has been revoked in order to cut down the costs and pass on the benefit to the consumers. However, we cannot put a percentage to the benefit as the coal prices are subject to fluctuation.”

Further, reiterating the revocation in consumers’ benefit, the statement added, “As per the new guidelines, the tariff payable is lower than tariff as per GR dated 1.12.2018 and also works out lower than present tariff as per original PPA (purchase agreement or power purchase agreement?) at current coal price. Therefore, the reduction of imported coal price under the new guidelines will benefit the consumers of the state.”

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