Cyrus Mistry, Anil Ambani, Chanda Kochchar, members of advisory group on power

Jaypee Group's Manoj Gaur and ICICI Bank's Chanda Kochchar will also be members of the group, according to sources.

The Central Electricity Authority (CEA) will provide all assistance to the Group for its smooth functioning.

At present, the power sector is facing acute coal and gas shortage due to which some projects have been stranded.

In a breather to the fuel-starved power stations, the government yesterday had given in-principle approval to averaging the prices of domestic and imported coal to get a uniform feedstock price in the country.

Anil Ambani is the Chairman of Reliance Group. His group company Reliance Power is executing three ultra mega power projects -- Sasan (Madhya Pradesh), Krishnapatnam (Andhra Pradesh) and Tilaiya (Jharkhand).

Cyrus Mistry is the Chairman of Tata Group whose group company Tata Power is building the Mundra ultra mega power project in Gujarat.

Manoj Gaur is Chairman and Managing Director of Jaypee Infratech, which constructed the Yamuna Expressway. The group is also active in the power sector and is constructing hydro power projects in Himachal Pradesh and Arunachal Pradesh.