Ril Today Appealed Against the High Court Order
RIL today appealed against the High Court order stopping it from selling gas to 3rd parties.
Based on the argument of Ministry of Petroleum and public at large that the pricing of gas should be market determined and not artificially suppressed. Reliance had appealed to the division bench to overturn the order which had in effect stalled gas projects thereby delaying nearly 50% of the Indian gas requirement and undermining energy and security.
Reliance in its argument has conveyed to the High Court that it must be allowed to negotiate with the buyers as gas cannot be stored and should not be flared in the hope that Reliance Energy would one day set up its power plant.
Reliance indicated that the sole objective of Anil Ambani owned energy utility is to procure gas by any means through media campaigns and misinformation and thereafter sell the same to end users at a much higher rate and earn huge brokerage without either setting up gas fields or putting up power plants. It is believe that Anil Ambani group has assured Government that it has most of the approvals and plans would be implemented soon. However, industry experts say that if Anil Ambani would even try in all possibility, no power plant would be ready before 2012, while the gas production from KG basin is expected to start flowing in less than a year if the interim order vacated.
Interestingly the question on the ability of private companies in power sector for setting up mega projects has been questioned as most companies including Anil Ambani group had hardly contributed to additional capacity despite India facing crunch over the last decade.
A senior petroleum ministry official also mentioned, under condition of anonymity, that power companies who are lobbying through media and other forums for subsidized gas price are adding Rs. 2.5 per unit to electricity cost at the consumer end due to their transmission losses and in-efficiency and in effect gas price at Rs. 1.7 per unit is only 2/3rd of the transmission cost. Any subsidized price for gas into a system of in-efficiency, leakages and theft by design or otherwise would amount to the Government rewarding the sector for its poor performance. Despite privatization of power distribution in Delhi and other cities the performance and losses have hardly improved.
(ArticlesBase SC #175880)
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