Power Companies

Steel, power cos bag major slice of blocks auctioned in 6th coal auctions

Steel, power and cement companies have bagged a sizable number of blocks auctioned under the sixth round of commercial coal auctions. As per an official note, JSW Steel has won Banai and Bhalumunda mines in Chhattisgarh, another block Parbatpur Central and Sitanala mines in Jharkhand, while JSW Cement bagged Marwatola - VI mine in Madhya Pradesh (MP). Jindal Power won Gare Palma Sector - I, Gare Palma IV/2 and Gare Palma IV/3 coal mines located in Chhattisgarh. Rungta Sons Private Limited has bagged Sakhigopal B Kankili and Chhendipada (Revised) blocks in Odisha, and Choritand Tiliaya in Jharkhand. RCR Steel Works won Patal East (Eastern Part) located in Jharkhand, Orissa Metallurgical Industry has secured Kagra Joydev mine in West Bengal. Cement companies Ambuja Cements Limited won Dahegaon-Gowari mine in Maharashtra, Ultratech Cement got Arjuni East in Madhya Pradesh, Dalmia Cement (Bharat) won Mandla North in Madhya Pradesh, Rama Cement Industries got 1 Marwatola VII mine in

Gencos with high input cost allowed to sell power at up to Rs 50 per unit

Power generating companies that incur high variable costs due to fuel expenses and other charges will soon able to sell electricity at a price of up to Rs 50 per unit on energy exchanges. The relaxation in norms by the Central Electricity Regulatory Commission (CERC) will provide relief to three category of power generating companies (gencos) -- those running their plants on expensive natural gas (RLNG), imported coal and using Battery Energy Storage System (BESS). At present, there is a price ceiling of Rs 12 per unit in the Day Ahead Market (DAM) on the energy exchanges. With the ceiling, gencos having high variable costs for operating their plants are generally not keen on selling electricity on the energy exchanges and this in turn results in stranded power generation capacity. Against this backdrop as well as the upcoming summer season, the CERC, earlier this month, allowed the introduction of a new segment -- High Price Day Ahead Market (HP-DAM) -- on the energy exchanges ...

Proposed UP power hike will hit common man: Akhilesh slams UP govt

Samajwadi Party (SP) president Akhilesh Yadav has slammed Uttar Pradesh government's proposal for a 23 per cent hike in power tariff

Power demand to fall in H2, gencos' receivables to go up: Fitch Ratings

The LPS Rules regulate access to power in case of non-payment of dues by discoms to gencos

JSPL acquires Monnet Power for Rs 410 cr through insolvency process

Monnet Power has a 1050 MW under-construction plant in Odisha's Angul

Turkish inflation tops 85% driven by surge in food prices, energy costs

Turkish annual inflation accelerated for the 17th month in a row in October, driven by a surge in food prices and energy costs, to its likely peak during President Erdogan's two decades in power

Valuations factor in multiple positives for Power Grid Corporation

Brokerages are positive given growth prospects, falling debt levels and high dividends

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 .