Page 3 - Power Companies

Pvt players will benefit: Workers federation leader slams electricity bill

The Electricity Amendment Bill 2022 tabled in Parliament in August will benefit private players and hurt common citizens, a senior functionary of an employees' outfit said on Saturday. Mohan Sharma, national general secretary of All India Federation of Electricity Employees, said the Bill will stop power subsidy to famers and common consumers. "While private companies will supply electricity to commercial consumers, the government distribution companies will suffer losses by providing subsidised electricity to farmers and common consumers. As a result, state-run power firms will become loss-making companies," he claimed. The Bill, which was introduced in the Lok Sabha on August 8, was referred for scrutiny to the Parliamentary Standing Committee on Energy on the same day. A few days ago, Union Power Minister RK Singh had told PTI "we hope we will be able to bring the Electricity Amendment Bill 2022 for consideration and passage in the Winter Session of Parliament".

Sembcorp Industries sells India unit to Tanweer Infra $1.47 billion

By 2025, Sembcorp aims to quadruple its gross installed renewable energy capacity to 10 Gw

Finnish govt proposes 10 bn euro crisis package for energy companies

"The state could grant loans or guarantees on a case-by-case basis to companies whose continued operations are critical to the functioning of society," said Prime Minister Sanna Marin

NTPC floats tender to raise Rs 5,000-cr term loan, bids invited till Aug 31

"We hereby seek participation of Banks/FIs (Financial Institutions) for the subject RFP (Request For Proposal for raising Rs 5,000 crore term loan)," a document said.

Saudi Aramco profit surges to another record on bumper oil market

Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production

Distressed discoms, high demand: What is ailing India's power sector?

Indian states and union territories (UTs) owe over Rs 1 trillion to the gencos and Rs 62,931 crore to the discoms

Govt asks Coal India to be ready to import 12 million tonnes of coal

According to industry experts, the government is making all efforts to build up stock of coal to avoid the reoccurrence of power outrages which happened in April

Power ministry earmarks 81 thermal units to move coal to renewable by 2026

The list includes generation units of state-owned NTPC, and privately owned units of Tata Power, Adani Power, CESC, Hindustan Power

Policy flip-flop over coal import puts state, private gencos in a spot

CIL to import coal for states; working capital pressure worries IPPs

CESC consolidated net profit rises 3.7% to Rs 445 crore in March quarter

The consolidated net profit of the company was at Rs 429 crore in the quarter ended March 2021, a BSE filing said

State-run power gencos owe Rs 6,477.5 crore to Coal India Ltd

At present, the country is witnessing a power crisis on account of coal shortages

Power companies' shares attract investors on firm demand outlook

Shares of power distribution companies are in demand amid reports of rising electricity consumption in the country

SJVN upscales power generation capacity target to 50,000 MW by 2040

State-run power producer SJVN Ltd on Wednesday announced that it has doubled its target of installed electricity generation capacity to 50,000 MW by 2040. Nand Lal Sharma, the Chairman & Managing Director of SJVN, in a statement said that SJVN has upgraded its Shared Vision to 5,000MW by 2023, 25,000 MW by 2030 & 50,000 MW by 2040. According to the statement this revision has resulted from addition of multiple projects in its portfolio and an already established repute of successfully operating & implementing Mega Hydro Projects in India & abroad. After hydro, the company has successfully added varied business verticals and forayed into thermal, solar, wind power generation, power transmission and power trading. Earlier, Vision of 5,000 MW installed capacity by 2023, 12,000 MW by 2025 & 25,000 MW by 2040 was formulated and set out 31st Raising Day of SJVN on 24th May, 2018. During last three years, business development of the company has gained pace and made rapid .

20 states evince interest to avail additional borrowing for power sector

The Ministry of Finance had launched a programme in June 2021 to allow additional borrowing space of Rs 80,000 crore to states

PTC India net profit rises 1% at Rs 195 crore in September quarter

The company on Thursday posted a marginal rise in consolidated net profit

RattanIndia Power loss widens to Rs 464 crore in September quarter

The company on Wednesday reported widening of consolidated net loss

Energy exchange jumps 180% this year as India battles coal crisis

Indian Energy Exchange's platform is used by companies to power their short-term needs.

Power cost to remain high as imported coal prices soar: Ind-Ra

Short-term power prices are likely to remain elevated in the near term on account of a continued increase in imported coal prices, according to rating agency Ind-Ra. It noted that a large part of the increased power generation would continue to be met through coal-based plants, although coal output is not increasing to the desired level. This is reflected in low inventory stocks at power plants, and therefore, a part of the increased energy demand will have to be met through imported coal, Ind-Ra said. In light of the expected high imported coal prices, the short-term power prices in India are likely to remain elevated, it stated. The speedy recovery in power demand post the second wave of COVID-19 infections, coupled with lower than adequate domestic coal production, led to a reduction in coal inventory levels at various power plants, it said. The coal production by Coal India increased marginally to 209.2 million tonne (mt) in April-August period of the ongoing fiscal year as ..

Stocks of Indian power producers rally as electricity demand rises

Tata Power rose by as much as 9.6% to an nearly 14-year high, while Torrent Power, another private power producer, rose to a record.

Tata Power CEO Praveer Sinha on India's transition to renewable energy

Climate change has thrown up key challenges for power firms. In this exclusive interview, Tata Power CEO Praveer Sinha lists the issue facing the power companies how his company is addressing them