Committee set up by state govt considering reduction in rates
The "load shedding", which entails compulsory power cuts in select areas, will be carried out both in urban and rural areas, the Maharashtra State Electricity Distribution Company said in a statement.
As Mumbai's real estate and electric vehicle penetration grows, two of the city's private power distribution companies, Adani Electricity and Tata Power, are eyeing a bigger business pie, particularly betting on high-value customers. Adani Electricity Mumbai (AEML), the subsidiary which houses Adani Energy Solutions' Mumbai distribution business, recorded a six per cent growth in total units sold in the financial year 2023-24 (FY24), the company's presentation shows. This gain came at over 13 per cent growth in the year-ago period.
The project, with total generation capacity of 1,967 Mw, has been shut since Thursday, owing to shortage of gas.
A war of words is likely to break out between the state-owned power utility Maharashtra State Electricity Distribution Company Ltd and Maharashtra Electricity Regulatory Commission over the MERC's order on Monday.
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.
Except for the Devendra Fadnavis- led government during 2014-19, Anil Deshmukh has managed to find a berth in the state ministry irrespective of which party came to power in the last over two decades.
The Maharashtra government has decided to allow MSEB to draw power from phase I of Dabhol Power Company at an optimum level of 83 per cent and tariff of about Rs 2.80 per KWH.
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.
Maharashtra deputy Chief Minister Devendra Fadnavis, who also holds the energy portfolio, held a meeting with trade union representatives and later said the government had no intention to privatise state-run power utilities.
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Tata Power sets up camps to explain the benefits of switchover for low-end consumers from their current supplier.
The company wants to amend it's application against the part to make the case stronger.
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
Maharashtra Cabinet undecided over providing subsidy to private utilities.
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.
The earlier resolution allowing these developers to charge higher power tariffs, now stands cancelled.
Higher power tariff would have fetched Tata's Mundra UMPP Rs 25,000 crore (Rs 250 billion) and Adani's project an additional Rs 18,500 crore (Rs 185 billion)
The company will now focus on value creation for shareholders in the defence and construction businesses.
Five states -- Maharashtra, Haryana, Rajasthan, Punjab and Gujarat -- face a massive power crisis.
Since the bankcuptcy law came into effect from December 2016, with every quarter, the recovery rate has progressively been going down, notes Tamal Bandyopadhyay.
Dabhol's assets will be demerged into the power plant and the LNG terminal.
On paper, only 8,000 villages remain to be electrified in the country, but the situation on the ground shows euphoria over numbers is misplaced
Goa, Uttarakhand and Meghalaya will initiate schemes to enable 24x7 power to consumers.
China on Tuesday announced a major policy change for its crisis-ridden power sector by allowing coal-fired power plants to charge their industrial and commercial customers market-driven prices. The National Development and Reform Commission (NDRC) of China said the electricity generated by coal-fired plants would discover price in market trading "in an orderly manner" from October 15. This is being done to pass on the high costs of coal and is being held up as the boldest reform in the Chinese power sector.
Will get Rs 830 cr, Rs 329 cr respectively to offset higher coal costs
More, many market gurus expect the Sensex to reach 30,000 levels by December and 40,000-45,000 in three to four years.
Gujarat has topped with a score of 71.14% on ease of doing business list.
Indian economy about to take-off
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