The sluggish southwest monsoon, which yielded one of the driest Junes in a century this year, appears disappointing this month as well.
Power-deficit Maharashtra has firmed up plans to generate and supply a whopping 17,000 MW of additional power in next three to five years.
This has happened despite an increase in peak demand of power.
In a written reply to a question asked in Parliament earlier this week, minister of state for power Bharatsinh Solanki admitted that the coal stock position at some of NTPC's power stations had depleted. NTPC Ltd, the country's largest power generator, however, denies any shortage of dry fuel.
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
While near-term performance is difficult to predict after a huge run-up, fund managers believe the PSU theme's prospects remain sound over the medium to long term.
'...which is possible through flexicap and multicap funds.' 'The latter has a better balance between large, mid and smallcap stocks.'
An exceptional spurt in demand for power and less-than-expected capacity addition has pushed up the peak deficit for the April-October period to a 10-year high of 14.6 per cent. According to the latest data, the capacity addition of 3,765 Mw in the first seven months of the financial year is just 32 per cent of the target.
After topping it for two consecutive years, Gujarat slipped three places on the NITI Aayog's Export Preparedness Index (EPI) for 2022, as Tamil Nadu emerged as the most export-ready state, the central think tank said in its report released on Monday. In a continuing trend, coastal states were found to have the most robust export infrastructure, which officials attributed to the integration of maritime trade into the core of their economies. Maharashtra and Karnataka retained their positions -- second and third, respectively; Haryana was ranked first among landlocked states and fifth overall.
The Central Electricity Authority (CEA) has projected an energy shortfall of 10.3 per cent and a peak shortage of 12.9 per cent in the country during the current financial year (2011-12).
The power failure comes at a time when the state is reeling under power deficit.
From Jammu and Kashmir to Andhra Pradesh, consumers are facing power cuts ranging from 2 hours to 8 hours.
Considering double-digit peak and normal power deficit, and the industry seeks direct and indirect tax incentives to facilitate acceleration in the pace of capacity additions.
Massive capacity additions are required to meet power deficit and rising demand; so the sector seeks the benefit given to mega power projects be extended to 500 to 1000 MW too.
The Maharashtra government's plans to tap sugar factories as an alternative source of power to overcome huge power deficit to the tune of 5,000-6,000 Mw, are proving to be a damp squib due to the rising prices of steel and coal.
Fertiliser, power plants plan expansion in anticipation
According to the latest data from the Ministry of Water Resources, the water storage position in major reservoirs has gone down to a record low of 34.86 billion cubic metres (bcm) -- about 22 per cent of the total storage capacity of 151.76 bcm of all the 81 reservoirs taken together. The storage level was above 26 per cent last year. Of the total 81 reservoirs in the country, 36 have significant hydro power potential with an installed capacity of more than 60 Mw each.
The country's narrowing power deficit and increased coal production may not be indicators of the end of stress in the industry. Amritha Pillay reports.
The 900-Mw Purulia Pumped Storage Project (PSPP), the biggest project of its kind in India is set to mitigate the peak power deficit in the country by utilising the low-cost excess power available during periods of low demand. It will also boost the industrial drive of Purulia district which is poised to witness operations of many steel projects in the coming years. The Rs 2,953 cr (Rs 29.53 billion) project is located in Ajodhya Hills in Bagmundi village of Purulia district.
Energy-hungry India, which currently faces huge power deficit, will become an electricity surplus country in next four-five years, Power Minister Sushilkumar Shinde told Rajya Sabha on Monday.
A multi-pronged plan has been drawn up to address the acute power shortage in Maharashtra, Chief Minister Vilasrao Deshmukh said after a meeting with Prime Minister Manmohan Singh in New Delhi on Friday.
While the country's power sector faces an increased demand for electricity, industries in power-starved Maharahstra are exploring the option of using their own captive power plants to dilute the crunch.
In a judgement that will bring relief to power deficit states, the Appellate Tribunal for Electricity has disallowed power surplus states like Orissa from charging a premium on exported power.
American power major AES Corporation on Friday said it would invest $1.2 billion to develop a 1,000 MW coal-fired power plant in Chhattisgarh.
Coal India would open 60 new mines soon, the minister said.
Expanding at the rate of over 30 per cent per annum, the wind energy sector in India promises to emerge as an economically viable option to meet the current power deficit of the country.
The SAD MP from Bathinda said the alliance will be voted back because it had worked hard for the future of the state on an agenda of "development, development and yet more development".
India suffers from peak power deficit of three per cent.
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The cap on FDI in retail has been totally removed, while the limit in insurance sector has been enhanced to 46 per cent.
China has conveyed its willingness to enhance cooperation with India on combating the menace of terrorism, including in the United Nations, President Pranab Mukherjee said on Friday winding up a "fruitful and productive" four-day visit to that country.
Despite some sluggishness during 2009-10, the growth was largely on track during 2008-09 to 2012-13.
Essel Group, Reliance Jio, Fortis and 17 others on Thursday signed initial pacts to invest over Rs 39,000 crore (Rs 390 billion) in Uttar Pradesh, with Chief Minister Akhilesh Yadav promising the investors all possible support.
As the BJP is set to form the next government in Maharashtra on Friday, industry experts want the new chief minister to expedite the delayed infrastructure projects in the state and revive investment in key sectors by removing bureaucratic bottlenecks.
Power stations with captive mines might look at this as an opportunity to sell merchant power at higher rates.
If the power plants are reporting low coal stocks with them, it is largely because they have improved their power generation to meet higher demand.
The current crisis Karnataka Chief Minister Siddaramaiah is facing is a cumulative effect of inattention to water management and the fiscal burden of populist promises, says Aditi Phadnis.
Observing that climate change has become an urgent concern across the globe, Prime Minister Manmohan singh said on Friday ways and means should be developed to reduce India's carbon footprint as it would be among the nations to be 'most seriously' impacted.
The good news is that within the first 14 months, orders for manufacturing and commissioning of the entire 88,537 Mw capacity for the 12th Plan have been placed, according to the Central Electricity Authority, the country's apex power planning body.
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