The Bill is likely to pave the way for amending two existing legislations -- the Atomic Energy Act 1962, and the Civil Liability for Nuclear Damage Act 2010.
CERC, which has a key role in India's power sector, has also set up a committee to gather further evidence in the matter and take suitable action.
The idea is to establish a robust and forward-looking legal framework that addresses the financial stress of power distribution companies, which are facing losses of over 6.9 trillion, while curbing high industrial tariffs that, according to the government, have affected competitiveness, constrained economic growth, and slowed the transition to clean energy.
As the political uncertainty settles down, investors are reviewing their assumptions about the power sector. Demand here is likely to continue to grow strongly in the long-term at around 5-6 per cent CAGR (compounded annual growth rate) during the next 6-7 years. Given policy continuity, several trends will persist.
Power Grid Corporation (PGCIL) intends to ramp up its capex substantially through the next two financial years. The Public Sector Undertaking (PSU) utility posted flat consolidated revenues of Rs 10,700 crore in the third quarter of the current financial year (Q3FY24) and reported 7 per cent year on year (Y-o-Y) growth in net profit to Rs 4,000 crore. The Q3FY24 capex stood at Rs 3,440 crore and capitalisation at Rs 1,780 crore, taking the 9MFY24 total to Rs 8,700 crore capex and Rs 5,800 crore capitalisation, respectively.
The Supreme Court has dismissed an appeal filed the customs department against Adani Power Maharashtra Limited (APML), Adani Power Rajasthan Limited (APRL) and others in a case pertaining to alleged over-valuation of imported goods. "We have heard Balbir Singh, Additional Solicitor General appearing for the appellant(s), and Mukul Rohatgi, senior counsel appearing for the respondents, at length. "We are of the considered opinion that the matters are concluded by the findings of fact recorded by the authorities below and the impugned order(s) does not require any interference at our behest.
The Central Electricity Regulatory Commission, the nation's Power regulator, has allowed Ratnagiri Gas and Power Private Ltd, the new owner of Dabhol power project, to sell electricity to Maharashtra government.
The project, with total generation capacity of 1,967 Mw, has been shut since Thursday, owing to shortage of gas.
The regulatory body has said Adani's power purchase agreements with Gujarat and Haryana would be maintained.
Regulator sets up panel to work out compensatory rates in a month; stocks of all power firms light up
Government auditor CAG has rapped five regulators, including Sebi, Irda and PNGRB, for keeping their surplus funds worth over Rs 2,142 crore collected through fee and penalty outside the government accounts.
The company wants 'economic restitution' due to rupee depreciation and changes in law.
While power utilities and traders have generally welcomed the Central Electricity Regulatory Commission's draft regulations on renewable energy certificates (RECs), they have warned that the short supply of renewable energy (RE) may encourage speculative activity and volatility in the already tight market.
CERC keeping an eye on movement of prices.
The Central Electricity Regulatory Commission (CERC) has convened a hearing on March 23 to consider various remedial measures to contain transmission congestion that is severely affecting the flow of power to the southern states. The power exchanges and load dispatch centres would make their submissions at the meeting.
Power generating companies (gencos) that use imported coal to produce electricity, may find it difficult to switch on their idle units immediately in the wake of high fuel costs, several players have told Business Standard. Recently, the Union power ministry had invoked Section 11 of the Electricity Act mandating all imported coal-based plants to generate power at full capacity. However, some generating companies that use imported coal, argue that it is simply unviable for them to produce power when the price of coal in the international market is high, while the per-unit price of power has been capped at Rs 12 per unit on the domestic power exchange.
India's electricity regulator, the Central Electricity Regulatory Commission, has proposed a new tariff scheme for power generated from hydroelectric stations, whereby the risks associated with changes in water flow would now be borne by producers. This is a move that is likely to bring down the price being paid by users, usually the state electricity boards.
The power tariff will rise by Re 1 a unit due to hike in gas prices, Sushil Kumar Shinde, Union Minister of Power said.
The power regulator's office may have been functioning "normally" without a chairperson for almost a year, but industry executives see this as the Central government's lack of seriousness towards the body and the power sector.
Power Minister P M Sayeed on Tuesday assured full autonomy to electricity regulatory commissions and said he would talk to state governments for providing administrative and infrastructure support to the regulators.
The Central Electricity Regulatory Commission issued orders for inter-state transmission, prohibiting discrimination by state electricity boards. The commission divided open access customers into two categories-long term and short term.
Electricity could soon be bought and sold just like equity shares and commodities with Central Electricity Regulatory Commission initiating the exercise for setting up a power exchange in the country.
With a view to increase efficiency and competition in the power sector, Central Electricity Regulatory Commission on Monday allowed open access in transmission system to power generating and distributing companies with immediate effect.
In a major blow to Reliance Energy's plans to expand its business in power sector, the Central Electricity Regulatory Commission has rejected the application of the Anil Ambani-controlled company for a transmission licence.
The Supreme Court on Wednesday issued notice to the Centre on a petition challenging the legality of the power purchase agreement between Maharashtra State Electricity Board and the Enron-promoted Dabhol Power Corporation.
The Central Electricity Regulatory Commission on Tuesday said it was pressing the Centre for introducing open competitive bidding for power projects and indicated that it may review norms for returns.
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