Energy Policy

OTPC inks pact to develop 250 MW battery energy storage system in Assam

ONGC Tripura Power Company Ltd (OTPC) has signed a pact to develop battery energy storage project in Assam at an investment of Rs 2,000 crore, the firm said in a statement. The memorandum of understanding (MoU) was signed with Assam Power Distribution Company Limited (APDCL) at Guwahati "to develop battery energy storage system project of capacity up to 250 MW / 500 MWh in phased manner in Assam by incorporating a joint venture company," it said. "An investment of Rs 2,000 crore will be made in the state for developing the project," the statement added without giving a time frame. OTPC is a joint venture of Oil and Natural Gas Corporation (ONGC), gas utility GAIL (India) Ltd, Government of Tripura and India Infrastructure Fund-II. It owns and operates a 726 MW gas based power plant which caters to 25 per cent of energy demand of all seven north-eastern states. Highlighting the benefits of the project, OTPC managing director Sanil C Namboodiripad said that the project will help the

Energy crisis sparked by Ukraine war to speed up green transition: IEA

The IEA's report said the global energy crisis is causing profound and long-lasting changes that could hasten the transition to a more sustainable and secure energy system

EU ministers discuss joint gas purchases, electricity market reform

EU energy ministers held an informal meeting here to discuss solutions for high gas prices, preparing for the energy situation this winter, and a possible revision of the electricity market

Global race to hike interest rates tilts economies towards recession

BofA sees UK and euro area falling into recession in the fourth quarter as surging energy costs take their toll on economies this winter

US Treasury official concludes India visit with discussions on Ukraine

: A US treasury official has concluded his visit to India that included meetings among others with Union Finance Minister Nirmala Sitharaman, with discussions on issues like energy prices and Ukraine. On August 26, Deputy Treasury Secretary Wally Adeyemo met with government officials in New Delhi, including Sitharaman, Principal Secretary to the Prime Minister PK Mishra, Ministry of Finance Secretary Ajay Seth, Ministry of External Affairs Secretary Vijay Kwatra, and Ministry of Petroleum and Natural Gas Secretary Pankaj Jain. During the meeting, Adeyemo discussed ways that the United States and India could work together to address shared global challenges like food insecurity and high energy prices. He raised that ending Russia's invasion of Ukraine was critical to addressing these issues, the Treasury said in a readout of the meetings. Adeyemo also shared with counterparts the United States' views on ways to put downward pressure on energy prices for consumers and businesses in .

Export curbs, higher energy prices may spike trade deficit further in FY23

Revenues from the export of industrial metals would also take a hit from a decline in metal prices

Russia-Ukraine crisis underscores lack of integrated energy policy in India

If India has to partially insulate itself, then oil companies must be given leeway to manage oil price risks

Trading on a buffer: Can India afford to commercialise its fuel reserves?

India's decision to commercialise half its strategic petroleum reserves could jeopardise its energy security

At least 43 US legislators complain to Trump on Mexico energy policy

Six US senators and 37 representatives wrote this week to President Donald Trump complaining about "actions by the government of Mexico that threaten US energy companies'' investment and market access

Best of BS opinion: PSB reforms, India's energy policy, and more

When India loses respect in the comity of nations, it is because of a transient loss of the liberal spirit, Uddalok Bhattacharya sums up