Gencos need to be supported with easier access to fuel and restructuring of their loans, or else those projects can come to a halt resulting in job losses and also leading to a rise in the non-performing assets (NPAs) in the banking system.
All employees of MSTC have pledged to donate their one day’s salary to the Prime Minister’s Cares Fund. In order to provide support to its potential bidders the company has also decided to postpone some of the scheduled auctions after June 14.
Engineers at electricity load despatch centres managed a total power demand dip of almost 32 GW between 8.49 PM and 9.09 PM, on Sunday, nearly three times the estimated fall by the national power grid.
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.
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