PowerMin to propose autonomy for POSOCO

In a move aimed at wooing and retaining investments,the power ministry will approach Cabinet seeking independent transmission regulator status to the Power System Operation Corporation Limited POSOCO and also fixing the price of gas for electricity generation plants at 5 per mmBtu.

The proposal is aimed at providing greater autonomy to POSOCO,currently an arm of state-run Power Grid.

We are looking for private sector participation in the transmission sector,therefore there is a need for a regulator which POSOCO cant perform if it works as a subsidiary of Power Grid, minister of state for power Jyotiraditya Scindia said.