The Supreme Court has asked the Central Electricity Regulatory Commission (CERC) to review power purchase agreements (PPAs) of the thermal power plants (TPPs) by Adani Power Limited, Tata Power Company Limited and Essar Power Limited in Gujarat. The court said that its April 2017 order denying compensatory tariffs would not come in the way of implementing fuel cost pass-through in tariffs as recommended by the Gujarat government’s high-level committee. The apex court has asked CERC to come out with necessary amendments in the PPAs in the next eight weeks. The three projects with a total capacity of 9,940 MW recorded accumulated losses of Rs 212 billion as of March 2018.
NTPC Limited has entered into a Rs 100 billion contract with the Indian Railways (IR) for transportation of coal from mines to all its plants up to 2019-20. NTPC will pay the entire amount as advance to the Indian Railways in three instalments. In return, IR is offering NTPC fixed prices for the rest of 2018-19 and 2019-20 and a preferential allotment of rakes. This will help reduce the transportation cost of coal for NTPC as upcoming revision in railways freight rates will not be applicable to the central generator. Besides coal transportation time will also reduce significantly. NTPC has already paid an instalment of Rs 20 billion as part of the contract.
The Gujarat Electricity Regulatory Commission (GERC) has approved fuel and power purchase price adjustment (FPPPA) for discoms for the October-December 2018 quarter. Torrent Power commenced billing at FPPPA rate of Rs 2.09 per unit from October 2018 which marks an increase of 23 paise in FPPPA including a partial recovery of past under-recoveries. Meanwhile, the four government power discoms, viz. Dashin Gujarat Vij Company Limited, Uttar Gujarat Vij Company Limited, Madhya Gujarat Vij Company Limited and Paschim Gujarat Vij Company Limited, have increased the surcharge by 10 paise - from Rs 1.61 per unit in the July-August 2018 quarter to Rs 1.71 for October-December quarter 2018.
PTC India Limited has signed PPAs with four state distribution companies and has signed power supply agreements (PSAs) with seven independent power producers (IPPs) under the Ministry of Power’s pilot power procurement scheme. The PPAs have been signed with Bihar (200 MW), West Bengal (200 MW), Telangana (550 MW) and Tamil Nadu (550 MW). Meanwhile, the PSAs have been signed with RKM Powergen (550 MW); Jhabua Power (100 MW); MB Power (Madhya Pradesh) Limited (175 MW); SKS Power Generation (Chhattisgarh) Limited (300 MW); Jindal India Thermal Power (125 MW); IL&FS Tamil Nadu Power Company (550 MW), and Jaypee Power Ventures (100 MW). Under the pilot scheme, PFC Consulting had conducted tariff-based competitive bidding on DEEP e-bidding portal for the selection of developers wherein 1,900 MW was procured at a tariff of Rs 4.24/kWh without any escalation for the next three years.
GE Power India Limited has secured four contracts worth Rs 17.83 billion from NTPC for the supply of emission control equipment for its coal-based power plants. As part of the contracts, GE Power would supply wet flue gas desulphurisation (FGD) technology for NTPC’s thermal projects including the 1,320 MW Solapur super thermal power plant in Maharashtra, 1,320 MW stage II of Tanda project, 500 MW Unchahar project and 1,320 MW Meja power project in Uttar Pradesh. With this, GE has now been awarded a total of six contracts for installing wet FGD technology in India, other two being NTPC’s 500 MW Vindhyachal Stage V/Unit-13 (where facilities and performance guarantee tests were completed recently) and NTPC’s 1,600 MW Telangana thermal power project (awarded earlier this year). The installation of GE Power’s wet FGDs will take 33 months for the first unit and 39 months for the second unit from the date of award of the contract. GE’s scope includes design, engineering, civil work, supply, erection and commissioning of wet FGD systems along with auxiliaries like limestone and gypsum handling system and wet stack.
Siemens Gamesa has secured two orders from ReNew Power Limited for two wind projects totalling 176.8 MW in Gujarat and Maharashtra. The contracts involve the construction of a 100.8 MW wind farm located in the Kutch district in Gujarat and a 76 MW wind farm in Osmanabad district in Maharashtra. As part of the turnkey contract, Siemens Gamesa will provide the infrastructure needed to install and operate the facility including supply, erection and commissioning of 48 units of SG 2.1-122 wind turbines in Gujarat and 38 units of SG 2.0-114 wind turbines in Maharashtra.
Bharat Heavy Electricals Limited (BHEL) has recorded a total income (standalone) of Rs 69.32 billion for the quarter ended September 2018, an increase of 5 per cent over Rs 65.94 billion recorded in the corresponding period last year. The company’s net profit increased by 60 per cent to Rs 1.85 billion from Rs 1.15 billion during the same period.
Tata Power Company Limited has recorded total income (standalone) of Rs 74.37 billion for the quarter ended September 2018, an increase of 6.14 per cent over Rs 70.06 billion recorded in the corresponding period last year. The company’s net profit increased by 85 per cent to Rs 3.93 billion from Rs 2.12 billion during the same period.
Adani Power Limited has recorded a total income of Rs 76.57 billion for the quarter ended September 2018, an increase of 8.2 per cent over Rs 64.14 billion in the corresponding period last year. The company’s net profit increased by 22 per cent to Rs 3.86 billion from Rs 3.16 billion during this period.
ABB India Limited has recorded total revenues of Rs 25.43 billion for the quarter ended September 2018, an increase of about 30 per cent over Rs 19.61 billion recorded in the corresponding period last year. Its net profit increased by 30 per cent to Rs 1.08 billion from Rs 833.9 million during the same period.
Kalpataru Power Transmission Limited has recorded a total income of Rs 15.9 billion for the ended September 2018, an increase of 28.2 per cent over Rs 12.4 billion recorded in the corresponding period last year. Its net profit increased by 27.8 per cent to Rs 914 million from Rs 715 million during this period.
BHEL has approved a proposal to buy back 189.3 million shares, aggregating to Rs 16.28 billion, through a tender offer route. The buyback, whose price is set at Rs 86 a piece, will represent 5.16 per cent of the paid-up share capital of the company. The company has also announced November 6, 2018 as the record date to determine the entitlement and names of the eligible shareholders, who can participate in the buyback.
Tata Power Company Limited has received shareholders' approval to raise Rs 55 billion via bonds on a private placement basis. The company will issue non-convertible debentures (NCDs) in one or more tranches or series through the private placement. The board has approved the issuance of non-cumulative, redeemable, taxable, listed, rated securities in the form of non-convertible debentures up to an aggregate amount not exceeding Rs 55 billion.
The IDBI Bank has initiated insolvency proceedings against Konaseema Gas Power Limited which operates the 445 MW gas-based power plant at Ravulapalem, Andhra Pradesh owing to payment default. The bank has approached the National Company Law Tribunal (NCLT) with a petition to initiate corporate insolvency proceedings and recovery of dues. Along with Rs 1.5 billion overseas credit line, the bank had also extended several other facilities like term loans with the total dues of about Rs 6.63 billion.
The Asian Development Bank is planning to scale-up a satellite-based smart meters project implemented in Uttar Pradesh by Energy Efficiency Services Limited (EESL). As part of ADB’s $200 million loan for EESL to implement various demand side energy efficiency projects in India, the ADB-assisted pilot project is running in Varanasi where around 5,000 households have got smart meters with satellite communication technology.
The Central Electricity Regulatory Commission (CERC) Has Issued The Cross Border Trade Of Electricity Regulations, 2019
The Central Electricity Regulatory Commission (CERC) Has Notified The Tariff Regulations, 2019
Cabinet Committee On Economic Affairs (CCEA) Has Allowed Coal Block Allocatees The Flexibility To Sell 25 Per Cent Of The Coal Output In The Open Market On Payment Of An Additional Premium.
The Ministry Of Power (MoP) Has Proposed Incentives Worth Rs 885 Billion To Encourage Power Plants To Install Emission Control Equipment And Develop Infrastructure For Electric Vehicles (EVs).
The Central Electricity Regulatory Commission (CERC) Has Notified The Terms And Conditions Of Tariff (Second Amendment) Regulations, 2019
The Ministry Of Coal (MoC) Has Agreed To The Proposals Submitted By The Cabinet Secretary P.K. Sinha-led Panel
The Ministry Of Power Is Planning To Finalise The Proposed Hydro Policy In Order To Revive Stalled Hydropower Projects Aggregating About 5,950 MW
The Central Electricity Regulatory Commission (CERC) Has Issued A Discussion Paper On “Market Based Economic Dispatch Of Electricity: Re-designing Of Day-Ahead Market (DAM) In India”
The Ministry Of Power Has Decided To Convert All Existing And New Meters Into Smart And Prepaid Meters Within Three Years Starting From April 1, 2019
The Central Electricity Regulatory Commission (CERC) Has Notified The Draft CERC (Terms And Conditions Of Tariff) Regulations, 2019
The Central Government Has Constituted A Group Of Ministers (GoM) Headed By The Finance Minister To Examine
The Ministry Of Power Has Announced That The Households In Eight More States Have Achieved 100 Per Cent Electrification Under Saubhagya.
The Central Electricity Regulatory Commission Has Notified The Deviation Settlement Mechanism (DSM) And Related Matters (Fourth Amendment) Regulations, 2018
The Ministry Of Power Is Planning To Introduce An Electric Vehicle (EV)s Charging Infrastructure Policy Which Would Allow Individuals To Set Up Charging Stations For Commercial Use.
The Ministry Of Power Has Notified An Amendment In The Methodology For Use Of Coal By States In Private Generating Stations Under ‘Case-4: Flexibility Of Utilisation Of Coal In IPPs.
The Ministry Of Coal Has Issued A Tender For Allocation Of Coal Mines For Companies Engaged In Specific End-use Sectors
The Ministry Of Power (MoP) Has Announced Rs 1 Billion Award For States That Would Complete Household Electrification Early Under The SAUBHAGYA Scheme
Coal India Limited (CIL) Has Signed A Memorandum Of Understanding (MoU) With NLC India Limited For The Formation Of A Joint Venture
The Central Government Is Likely To Resume Allotting Coal To Merchant Power Plants That Supply Electricity To The Short-term Market
The Ministry Of Environment Forest And Climate Change Has Accorded Environmental Clearance To NTPC Limited For The 1,320 MW Talcher Expansion Thermal Power Project In Odisha
The Ministry Of Environment, Forest And Climate Change (MoEFCC) Has Issued A Draft Notification To Add A New Rule In Environment Impact Assessment Notification, 2006
The Ministry Of Power (MoP) Has Notified The Draft Electricity (Amendment) Act, 2018 Carrying The Proposed Amendments To The Electricity Act, 2003.
The Central Electricity Regulatory Commission (CERC) Has Notified A Discussion Paper Titled ReDesigning Ancillary Services Mechanism In India.
Ministry Of Power Has Issued A Direction To The Central Electricity Regulatory Commission (CERC) To Allow Changes In Any Central Or State Government Duties To Be Passed Onto Electricity Tariffs To Consumers Post Bidding
The Central Electricity Regulatory Commission (CERC) Has Notified The Draft Open Access In Inter-State Transmission (Fifth Amendment) Regulations, 2018
The Parliamentary Standing Committee On Energy Has Recommended That A New Framework Must Be Adopted To Resolve The Issue Of Stressed Power Assets
The Central Electricity Regulation Commission (CERC) Has Issued The Planning, Coordination And Development
The Ministry Of New And Renewable Energy (MNRE) Has Suggested The States To Waive Off Certain Cess And Taxes To The Developers Of Small Hydro Power (SHP) Projects (less Than 25 MW Capacity) For Six Years
The Ministry Of Power (MoP) Has Notified A Draft Concept Note On Merit Order Operation For Flexibility In Generation And Scheduling Of Thermal Power Stations
The Ministry Of Power Has Proposed To Change The Mandatory Default Setting For Air Conditioners
The Ministry Of Power (MoP) Is In The Process Of Finalising Guidelines To Improve Coal Supply To Thermal Power Plants
The Indian And French Governments Have Signed An Agreement To Expedite Work On The 9,600 MW Jaitapur Nuclear Power Plant In Maharashtra And Commence Work On The Site By The December 2018
The Central Government Has Launched The National E-Mobility Programme To Provide An Impetus To The E-mobility Ecosystem In The Country
The Nuclear Power Corporation Of India Limited
The Ministry Of Power (MoP) Is, Reportedly, Planning To Amend The Electricity Act, 2003 To Impose Penalties On Discoms For Load Shedding And To Introduce Direct Subsidy Transfers By State Governments To Consumers.
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100 Years - A Century Old Legacy
The Ministry Of Environment, Forests And Climate
NTPC Limited Is Planning
The Ministry Of Power (MoP)
The NITI Aayog Is Expected To Introduce
The Central Government Is Planning To Soon Notify A New Policy On Coal Linkages
Macawber Beekay Has Received The Recommendations From American Society Of Mechanical Engineers
The Ministry Of Power Has Issued
Indian And Bangladeshi Companies
The Central Electricity
The Central Electricity Regulatory
The Ministry Of Power (MoP) Is At An Advance Stage
Coal India Limited(CIL) Is Offering Domestic
The Central Electricity Regulatory Commission
The NITI Aayog Has Notified The Draft National
The Ministry Of Power Has Evaluated The Status Of 34 Stressed Thermal Power Plants
The Niti Aayog Hasasserted In ItsThree-year Action Agenda
Raj Kumar Singh Has Been Appointed As The New Union State Minister For Ministry Of Power
The Ministry Of Power