MoP Notifies Price of 1 MtoE

Ministry of Power notifies price of 1 MtoE applicable for Designated Consumer of Second Cycle of Perform, Achieve, and Trade (PAT) scheme

For compliance under Energy Consumption Norms and Standards of Designated Consumer notified under PAT scheme, the price of one MtoE (metric tonne of oil equivalent) is calculated based on the fuel mix used by various notified Designated Consumer in a specified target year.

Accordingly, the Ministry of Power, Government of India, notifies such price applicable for Designated Consumers of a specified cycle of PAT scheme for quantification of their compliance, in case of any default to meet the specified norms and standards.

The Ministry of Power, Government of India, in consultation with the Bureau of Energy Efficiency (BEE) has notified the price of per metric tonne of oil equivalent as INR 18402 only for the year 2018-19, vide G.S.R 779 (E) dated 14th December 2020.

For the succeeding target years, the price shall be such amount as may be specified by the Central Government, by notification in the Official Gazette. Such price will come into force on the date of their publication in the Official Gazette.

The price of one metric tonne of oil equivalent discovered for the year 2018-2019 is based on the changes in the corresponding energy mix due to the addition of new sectors viz. Petroleum Refinery, Railways and Electricity Distribution companies under the Perform, Achieve and Trade Scheme and further streamlining of price calculation methodology, as per notification G.S.R. 373 (E), dated the 31st March, 2016.

Posted On: 06 JAN 2021 6:09 PM by PIB Delhi

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