State amends captive power policy

MUMBAI, Dec 9: The Government of Maharashtra has once again modified its captive power generation policy introducing more procedural flexib...

MUMBAI, Dec 9: The Government of Maharashtra has once again modified its captive power generation policy introducing more procedural flexibility with a view to easing pressure on large power projects in the state.

According to a Government’s Notification issued last week, the captive power producer will have to consume at least 75 per cent of the plant’s installed capacity. The producer will be allowed to sell 25 per cent to not more than two consumers within the state. However, a producer will be allowed to sell additional power with a sanction from the state government under section 28 of the electricity Act.

The industrial house wishing to set up a captive power plant will have to float a subsidiary with a minimum equity stake of 51 per cent for the purpose.

Besides, the State Electricity Board will have a right to purchase additional electricity at the rate 10 per cent less than the prevailing rate the previous year at night hours. the Board will also be entitled to buy electricity during peak hours. However, the captive power generating industrial house will have to pay double the prevailing price for stand-by demands made to the State Electricity Board. And if their usage in stand-by period exceeds their initial requests, the board will be entitled to charge three times the prevailing price.

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