New Delhi: Distribution companies or Discoms, often cited as the weakest link in the Indian power sector, have been the focal point of power sector reforms for decades now. The fact that the Prime Minister in a recent review meeting of Ministry of Power and Ministry of New and Renewable Energy highlighted that focus needs to be on de-stressing discoms, points towards a systemic persistent problem in the distribution sector in India.There have been many attempts by the government from time to time for financially overhauling the distribution companies, or discoms. The flagship scheme of UDAY launched in 2015 was a leap forward in this regards. As happened with earlier financial packages, the stimulus provided by UDAY also failed to make a difference as discom debts and outstanding dues have reached pre-UDAY levels in 2020.To further add to the discoms’ financial woes, the nationwide lockdown aggravated the situation with electricity consumption falling steeply, particularly for … [Read more...] about OPINION: Will power discoms ever become “Aatmanirbhar” or self-reliant?
4000mah power bank charging time
Ahmedabad: The Gujarat high court on Friday issued notice to the state government and its power distribution companies in response to a petition by the Gujarat Re-Rolling Mills Association seeking waiver for the fixed minimum demand of electricity charges for May and June.The association has filed a petition stating that after the lockdown 1.0, the state government announced waiver of fixed electricity charge for April. However, the lockdown continued later on the central government’s orders. This halted the industrial production across the state.The association of 50 MSMEs submitted that because the lockdown continued to be in force, business activities could not be resumed. The fixed-demand electricity charges are exorbitant and the industrial units are unable to bear the cost with work stalled. If these charges are not waived off, the industrial units will be constrained to shut operations resulting in loss of livelihood for more than 10,000 labourers. The association has … [Read more...] about Gujarat: HC notice over fixed power charges for lockdown period
KOLKATA: The country's economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks (PSBs) to boost credit growth, an official said on Friday. The number of PSBs has come down after amalgamation of several lenders, and their ability to lend has increased manifold, Union Bank of India MD and CEO Rajkiran Rai G said. Recently, Oriental Bank of Commerce and United Bank of India were merged into Punjab National Bank, Syndicate Bank into Canara Bank, Allahabad Bank into Indian Bank and Andhra and Corporation banks into Union Bank of India. He said the lenders will be able to meet the expectations of the business community. Speaking at a webinar session organised by the BCCI, Rai said that there will be a shift of credit growth in favour of the PSBs, adding that depositors will expect an interest rate of 5.5 per cent. According to him, the issues of the depositors cannot be overlooked, and more stress will have to be given on the liability side to … [Read more...] about Economy needs support from PSBs: Union Bank chief
New Delhi: State-run hydro-power giant NHPC on Friday said it would suffer electricity generation loss of Rs 119.43 crore due to delay in restoration work at its three plants during the lockdown to fight COVID-19. "The restoration schedule of three power stations i.e. Chamera-II Power Station, Kishanganga Power Station, Loktak Power Station has been affected due to movement restrictions imposed in wake of CoVID-19 pandemic. An estimated loss of Rs 119.43 crore is expected due to anticipated generation loss," NHPC said in a statement. The construction at its two hydro-electric projects, Parbati-II and Subansiri Lower, also affected due to the lockdown. At Parbati-II, the construction activities were completely halted from March 23 to April 22 due to the lockdown announced to contain COVID-19. The shortage of labour may affect the construction schedule and enhance the completion cost of the project, it added. At Subansiri Lower, it said all construction work was suspended from March 24 … [Read more...] about NHPC to suffer power generation loss of Rs 119.43 cr due to lockdown
Globally power transmission tenders are being delayed and this will have an impact on the exports business, Manish Agarwal, Chief Executive Officer at Delhi-based Sterlite Power Solutions, one of the four business divisions of the Rs 3,571 crore transmission company Sterlite Power, tells ETEnergyworld in an exclusive interview. Edited excerpts..What has been the impact on your business operations as a result of the Coronavirus outbreak?All businesses have been impacted by the Covid 19 outbreak and we are no exception. Due to the lockdown, our project sites and manufacturing plants were not fully operational. Migration of labour has been challenging with many workers travelling back to their homes. Inter-district movement restrictions also impacted availability of labour. Factory utilisation is at 33 per cent which will mean lower volumes of production this quarter. Even at project sites, we are working with nearly half the workforce on most projects. However, with gradual relaxations … [Read more...] about We are seeing slower revenue, logistics issues: Manish Agarwal, CEO, Sterlite Power Solutions