Faced with acute shortage of power and fuel and various issues impeding development of the power sector, the government on Tuesday hinted that it would soon come out with new bidding norms for new power projects after holding talks with the stakeholders.

Addressing a press conference here, Minister of State for Power Jyotirditya Scinda said he would hold talks with stakeholders during the next two weeks and finalise the Standard Bidding Documents (SBDs) that had been in the works for a long time now. He also indicated that a plan was underway to strengthen the electricity grid system and move was afoot to grant the status of regulator to Power Operations Systems Company (Posoco), a wholly-owned subsidiary of Power Grid Corporation of India Limited (PGCIL).