The national power grid was prepared for the fall in demand and has been gradually scaling down thermal power generation in steps since 7.30 PM. In tandem power generation from gas-based and hydel generation units were being scaled up to maintain the balance.
PM Narendra Modi has appealed citizens to switch off electric lights at 9 pm on Sunday for nine minutes.
The ‘unprecedented’ event will be handled through reduction in generation of hydro & gas resources.
Ministry officials and grid management authorities in Centre and states swung into action immediately after Modi's address on Friday morning, urging people to switch of lights at 9 PM on Sunday night and express solidarity in times of lockdown by lighting earthen lamps or torch lights.
“This is also referred to as deferred payment letter of credit, which will allow consumers in the power sector to get deferred payment option for coal value by paying service charge to its banker. The banker makes instant payment to Coal India,” said a senior Coal India executive.
Power demand has fallen 30% since the start of the lockdown on March 25, compared to a year ago, and may fall further, forcing 65 GW of capacity to back down.
Stocks at power plants have touched 42.5 million tonnes, enough for generating power for 25 days, while at pitheads its is 64.5 million tonnes, good for almost 38 days.
In India it has rated Lalitpur Power Generation Company Ltd’s senior secured note under the thermal power project rating criteria.
Coal India subsidiary, Mahanadi Coalfields will finance a 500 bedded state-of-the-art COVID hospital in Odisha's Bhubaneshwar that is scheduled to become operational in a fortnight.
“The decision to postpone the long-term supply auction was taken prior to the declaration of the lockdown. We are keeping a close watch on the situation and may push it back further if necessary,” said SK Gupta, chairman, MSTC.
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