Losses of state-owned power distribution companies (discoms) are seen to be around Rs 58,000 crore in the current fiscal because of lower revenue generation amid muted power demand due to the lockdown, analysts at Crisil Ratings said. Losses in FY20 were to the tune of around Rs 30,000 crore, according to an estimate. Discoms are […]
Category: Power
Power
EESL in talks with discoms to implement solar plants-LED lights-pump sets package
KEEPING IN MIND the diverse requirements in rural areas, Energy Efficiency Services (EESL), a state-run power sector player, is in talks with state-run power distribution companies (discoms) to implement its new modular programme, which would set up solar plants in villages, install LED street lights with batteries and replace older agricultural pump sets with efficient […]
Govt launches real-time electricity market; here’s how it will change power landscape forever
In a move to utilise surplus capacity in the power sector, the government today launched a pan-India real-time market of electricity. With the newly launched market, India has joined the league of a handful of nations to have such a market, said R K Singh, MoS (IC), Power and New & Renewable Energy. The proposed […]
Government launches real-time-market in electricity
Union Power Minister RK Singh formally launched the real-time-marjet (RTM) in electricity on Wednesday. The mechanism gives more operational flexibility to thermal power producers, who can now sell additional power in the spot market where power distribution companies (discoms) procure lower volumes of electricity that what was scheduled by them earlier. To their benefit, discoms […]
Unlockdown-1: 80% industrial units in Gujarat resume operations
Nearly 80% industrial units across Gujarat have resumed operations following the state government’s permission to function with 100% workforce outside containment areas as part of unlockdown-1, according to Gujarat’s industries commissioner Rahul Gupta. “We have removed odd-even system for textile and other markets. Industries across the sectors are now gradually returning to normalcy. Demands for […]
Power demand recovering but still far below normal levels; here’s how much it fell in May from a year ago
The power demand in India has started to pick up as the Modi government gradually eased restrictions on economic activity, however, the current level of electricity usage is still much below the normal levels. Power demand in May fell 14.16 per cent to 103.02 billion units (BU) compared to 120.02 BU a year ago, though […]
Punjab, UP among 5 states to evince interest for loans under Rs 90K cr liquidity package for discoms
Punjab, Uttar Pradesh, Rajasthan, Manipur and Karnataka have evinced interest for taking loan under the Rs 90,000-crore liquidity package for discoms to pay their utilities’ outstanding towards gencos, a senior official said on Monday. Finance Minister Nirmala Sitharaman had on May 13 announced Rs 90,000-crore liquidity infusion into cash-strapped power distribution companies (discoms), facing demand […]
Adani Mundra: Gujarat cites ‘data gaps’ for delay in calculating compensation
State-owned discom Gujarat Urja Vikas Nigam (GUVNL) said it needs more time to ascertain the compensation to be paid to Adani Power’s Mundra plant as it feels there are ‘data gaps’ between the cost of imported Indonesian coal claimed by the company and actual prices. GUVNL’s lawyer’s said the company is claiming the fuel cost […]
PFC plans to tap RBI borrowing as new low-cost funding source
As a measure to widen the sources of low-cost funding, state-run Power Finance Corporation (PFC) is planning to tap new avenues, including borrowing from the RBI and the retail market. “We urgently need to increase our share of 54EC capital gain tax bonds, open up new avenues like a borrowing facility from RBI and also […]
UP’s economic activity returning to normalcy; here’s what industrial power demand data shows
Economic activity in Uttar Pradesh state may be gradually returning to normalcy as the data shows that industrial power consumption in the state has rebounded closer to the pre-pandemic levels. After two successive months of depressed economic activity, industrial power consumption in UP, this week, crossed 90 per cent of the average consumption recorded in […]
UPPCL seeks state guarantee for 21,000-crore PFC-REC loan
The Uttar Pradesh Power Corporation has sought state government guarantees for loans of nearly Rs 21,000 crore to be borrowed from PFC-REC for payment of outstanding dues of central generating stations (CGS), independent power producers (IPPs) and renewable energy (RE) generators. It has also sought subsidy support for debt servicing of this loan. An action […]
New PPA after 5 years: Madhya Pradesh approves pact with Adani Power
After a hiatus of five years, a new long-term power purchase agreement (PPA) for thermal power has been finalised, with the regulator of Madhya Pradhesh approving the 25-year contract signed between Pench Thermal Energy (MP), a unit of Adani Power, and MP Power Management Company (MPMCL), the state electricity board. According to sources, Adani Power […]