The auction started at a base price of Rs 1.74 per unit considering a plant load factor (PLF) or capacity utilisation of 35 per cent of the installed capacity. The auction was held for the entire 8.9 million standard cubic meters per day of imported gas, which will be utilised for running 8,108 MW capacity plants.
NTPC and Lanco were among the three companies which quoted the lowest bid of Rs 1.42 per unit for availing of subsidy on imported gas to run 14 stranded power projects across the country, in the first ever auction that saw fierce bidding.
The bidders were asked to quote subsidy in rupees per unit so that they can generate and supply power at maximum of Rs 5.50 a unit. The lowest bidders would get subsidy.
As many as 14 power projects technically qualified to participate in the auction for receiving subsidy on imported LNG for restarting stranded gas-based power plants.
Sources said Lanco, NTPC (along with GAIL for Ratnagiri power project) and a third company quoted the lowest bid of Rs 1.42 per unit. The name of the third company could not be obtained.
Of the remaining seven bidders, six submitted financial bid of Rs 1.44 per unit and one Rs 1.45 per unit.
The auction started at a base price of Rs 1.74 per unit considering a plant load factor (PLF) or capacity utilisation of 35% of the installed capacity. The auction was held for the entire 8.9 million standard cubic meters per day of imported gas, which will be utilised for running 8,108 MW capacity plants.
This round of auction will entail a subsidy outgo of Rs 792 crore for the government, said R N Choubey, Special Secretary in the Ministry of Power.
State-owned gas utility GAIL India Ltd and Gujarat State Petroleum Corp (GSPC) have been designated importers of liquefied natural gas (LNG), whose delivered price will be reduced by asking importer and transporter to take a hair cut in marketing and operational cost.
The government will provide as much as Rs 3,500 crore in financial support to the power plants this fiscal and another Rs 4,000 crore in the next year.
Ten stranded gas-based power generation plants have bid through reverse e-auction process for generating 5.05 billion units of electricity which will be supplied at or below Rs 4.70 per unit, an official statement said.
The discom will be able to supply this electricity during peak summer months from June 1 to September 30, 2015.
This will involve government support of Rs 723.99 crore from the Power System Development Fund, it added.
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