Tata Power saw a big sell-off, with the stock falling almost 8 per cent after declaring disappointing results for the October-December quarter (Q3) of 2023-24 (FY24) on Friday evening. The company reported net consolidated revenue of Rs 14,650 crore, up 4.4 per cent year-on-year (Y-o-Y), and earnings before interest, tax, depreciation, and amortisation (Ebitda) of Rs 2,607 crore, up 2 per cent Y-o-Y, in the quarter, led by higher sales across Odisha distribution companies (discoms) and capacity addition in renewables. This was well below consensus estimates.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
India has achieved 100 per cent electrical connectivity, but 100 per cent electrification remains a long-drawn task, says Shreya Jai.
And it has to be done in less than 200 days!
Countrywide AT&C losses have increased to 34.54 per cent in 2005-06 from 34.33 per cent in 2004-05, mainly due to an increase in AT&C losses in the western region from 34.58 per cent to 36.88 per cent.
The power ministry is planning to start a second version of UDAY, aimed only at reducing the losses of discoms and improving the quality of power supply.
The private discoms that join the scheme would only benefit in terms of operational efficiency and there will not be any financial bailout
Centre meets target of 18,000 villages but household metering remains a challenge
Rajasthan CM Vasundhara Raje breaks her silence.
Power plant load factors are at historic lows of around 60 per cent.
Despite their promised and announced reduction in power prices, the Arvind Kejriwal-led Delhi government may want keep the issue on the burner for sometime longer, since none of the concerned players are ready to give an inch, and seem raring for a fight, says Upasna Pandey
