Page 5 - Power

PTC India appoints Mohammad Afzal as power ministry nominee director

Power trading solutions provider PTC India on Tuesday said Mohammad Afzal has been appointed as power ministry nominee director on its board. Afzal's appointment has been approved by the board in a circular resolution on December 12, 2022. He is a Joint Secretary (Transmission) in Ministry of Power. "Mohammad Afzal, has been appointed as Nominee Director of Ministry of Power, Government of India on the Board of PTC India with effect from December 12, 2022," a BSE filing stated. He has no relationship with any of the directors of PTC and is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India (SEBI) or any other such authority, it stated. Afzal holds M.E. (First with Honours) in Power System Engg. degree from the then University of Roorkee (Now, Indian Institute of Technology, Roorkee). He joined Central Electricity Authority in November 1996 and has served in various divisions like System Engg. & Technology Division, ...

Adani Power extends timeline to Dec 31 for complete acquisition of DB Power

Adani Power on Monday said that the timeline for the completion of the Rs 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended by one month till December 31, 2022. Earlier, the company had extended the timeline for completion by a month till November 30, 2022. "Parties to the proposed transaction have mutually agreed to further extend the long stop date as December 31, 2022, for achieving the closing/completion," a BSE filing said. Earlier in August this year, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power), which owns and operates a running 2x600 MW thermal power plant at district Janjgir Champa in Chhattisgarh. DB Power has long and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Ltd, and has been operating its facilities profitably. The initial term of the MOU (memorandum of understanding) shall be till October 31, 2022, which may be exte

MSEDCL raids reveal developer stole 80,000 units power worth Rs 33.43 lakh

A developer in Ambernath in Thane district has allegedly stolen power worth Rs 33.43 lakh at three construction sites, a Maharashtra State Electricity Distribution Company Limited (MSEDCL) official said on Friday. The raids were conducted after a tip off was received that he had stolen electricity between March last year and November this year using a remote control device, the official added. "He has stolen 80,387 units of power worth Rs 33,43,970. An offence is being registered with the local police," the official said.

Most Ukrainians left without power after fresh strikes by Russia

A punishing new barrage of Russian strikes on Ukrainian infrastructure on Wednesday caused power outages across large parts of the country as well as neighbouring Moldova further hobbling Ukraine's battered electricity network and adding to civilians' misery as winter begins. Multiple regions reported attacks in quick succession and Ukraine's Energy Ministry said that the vast majority of electricity consumers were cut off. Officials in Kyiv said three people were killed and nine wounded in the capital after a Russian strike hit a two-story building. Russia has been pounding the power grid and other facilities with missiles and exploding drones for weeks and the energy system is being damaged faster than it can be repaired. In the aftermath of the strikes, Ukrainian President Volodymyr Zelenskyy tweeted that he has instructed Ukraine's ambassador to the United Nations to request an urgent meeting of the Security Council. Murder of civilians, ruining of civilian infrastructure ar

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".

China: Iconic Shanghai skyline goes dark as drought hits power supply

The waterfront area - known for its mix of historical and futuristic buildings - is a popular tourist destination, BBC reported.

ReNew Power reports Rs 10.4 crore loss in April-June quarter of FY23

ReNew Power on Friday reported a loss of Rs 10.4 crore in April-June quarter of FY23 due to certain adjustment of one-time expense. "Net loss for Q1 FY23 (April-June 2022) was Rs 104 million (USD 1 million or Rs 10.4 crore) compared to a net profit of Rs 425 million (USD 5 million or Rs 42.5 crore) for Q1 FY22 (April-June 2021)," a company statement said. The company explained that the net loss includes a one-time expense for debt premium and the impact of a reclassification of a hedge loss from the balance sheet of Rs 2,531 million (USD 32 million or Rs 253.1 crore) for the refinancing of dollar bonds with lower cost rupee debt. Total income (or total revenue) for Q1 FY23 was Rs 25,007 million (USD 316 million or Rs 2,500.7 crore), an increase of 48.8 per cent over Q1 FY22. The translation of Indian rupees into US dollars has been made at Rs 79.02 to USD 1.00, it stated. As of June 30, 2022, the company's portfolio consisted of 12.9 GWs, a 30.3 per cent increase year-on-year, of

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

UltraTech profit falls 7% due to increased fuel and power costs hit

It still beat Q1 estimates despite decline on both YoY and sequential bases

Hindustan Power Exchange backed by BSE, PTC to commence operations

The other two exchanges in the country are Indian Energy Exchange (IEX) and Power Exchange of India ltd (PXIL), of which IEX holds a 98 per cent almost monopoly on the total traded power in country

Honda India Power surges 13%; stock hits over four-year high

The company remains confident of gasoline fueled engine and water pump business to perform well. It anticipates complete transition to gasoline from kerosene-powered products.

Discoms' outstanding dues to gencos rise 4% to Rs 1.21 trn in May

Power producers give 45 days to discoms to pay bills for electricity supply. After that, outstanding dues become overdue and generators charge interest on that in most cases.

Coal crisis: Railways cancels 42 passenger trains; some to be restored soon

The Railways has cancelled 42 passenger trains in order to prioritise coal rake movement across country to deal with a shortage of vital input at thermal power plants, the national transporter said

Pakistan to double hydroelectric output to meet power shortage: Report

Pakistan will double its hydroelectric output in next seven years to meet its power shortage and address the soaring electricity prices, amid a worsening energy crisis resulting in load-shedding

India's peak power supply touches record level of 204 GW on Thursday

India's peak power demand met or highest supply in a day touched all-time high of 204.65 GW on Thursday amid ongoing heatwave sweeping through vast swathes of country increasing demand for electricity

Centre allocates 207MW additional power to J&K amid rise in demand

The Union government has allocated the additional power from the unallocated quota of Central Generating Stations of Northern Region Pool to Jammu and Kashmir, an official spokesman said

Power outage risk increases as severe heat spurs coal demand

The hottest March in more than a century has heralded an early start to summer, increasing power consumption by air conditioners and refrigerators.

Delhi: Peak power demand touches 5,460 MW, highest in April so far

The peak power demand was 5,460 MW at 3.29 pm on Monday, according to the realtime data of State Load Dispatch Centre, Delhi

Average power price on Indian Energy Exchange hits 13-year high in March

Power demand during March rose at the fastest pace in three months, with electricity shortages the worst since October due to soaring temperatures and a sharp uptick in economic activity

Peak power demand up 12% at 198.47 GW, may cross 200 GW-mark in April

According to the power ministry data, the peak power demand met was 177.20 GW on April 1, 2021.