By IANS
New Delhi : India needs an independent regulatory body to ensure bulk consumers like power generation and fertiliser production sectors get natural gas at competitive prices, said power secretary Anil Razdan here Thursday.
“Under the existing scenario in the country, where only a few players dominate domestic gas production and supply, free play of market forces alone cannot ensure competitive prices,” Razdan said while speaking at an oil and gas seminar.
The power secretary pointed out that regulation of the US gas production and supply market led to price competition that ultimately benefited consumers.
“Competitive electricity tariffs discovered in the bidding held for allocation of ultra mega power projects like Sasan and Mundra have set a benchmark for the Indian electricity market.”
“Domestic gas suppliers should keep this in mind if they want power generators to move from coal to gas,” Razdan stressed.