Domestic power tariffs are low in India, while the industrial tariffs are among the highest in the world due to cross subsidization. The Tariff Policy proposes six categories of consumers on voltage basis against the present 50-60 categories and sub-categories.
The company, which has an installed capacity of 12,742 MW, aims at raising Rs 3,000 crore from divestment of assets in 2020-21, despite the disruption caused by Covid-19 pandemic in the global economy, managing director Praveer Sinha told ET.
According to the filing, delay in getting multiple regulatory approval, that is ROW (right of way), forest approvals, wildlife, defense, civil aviation and power and transmission line crossing will delay the SCOD (scheduled commercial operation date), leading to cost escalation.
The five circles consist of Bhubaneshwar, Cuttack, Puri, Paradip and Dhenkanal. As per order issued by the Odisha Electricity Regulatory Commission (OERC) on May 28, 2020, Tata Power will hold 51% equity with management control and the state-owned GRIDCO will have the remaining 49% equity stake in the company, an official statement said.
The company needs to explore new areas of financing such as charging infrastructure and electric vehicles, renewable energy sources with substantial storage and make efforts to tap business from good business houses, , Dhillon who took charge of PFC on Monday said.
However, the slump in power consumption has narrowed down in May to 14.16 per cent from 22.65 per cent recorded April in this year. The entire month of April had witnessed low power demand due to COVID-19 lockdown.
A senior government official said that PFC and REC have fixed interest rates under the liquidity package at 8.75% for three-year loans, 9% for five year loans, 9.25% for seven years and 9.5% for 10-year term loans. The interest rates will be valid for the next 60 days.
IndiGrid aims to scale up its power transmission assets under management (AUM) to Rs 30,000 crore by 2022 and has plans to diversify into the solar power sector.This will be the second acquisition by IndiGrid from a company other than its original sponsor Sterlite Power.
Officials of the power ministry discussed the need to restructure the power system to make states responsible for the financial health of their power distributions companies (discoms), with the NK Singh-led FC. This would entail recalibrating state borrowing limits under the Fiscal Responsibility and Budget Management (FRBM) Act, to account for the added liabilities, the press release said.
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 because of lockdown.
A state-wise analysis showed that the consumption of electricity in states like Punjab, Haryana and Rajasthan has increased over last year- in both peak-hour demand and energy consumed per day terms, a quick comparison between electricity demand (both peak-hour and energy met) on May 26 this year with May 24, 2019—a corresponding working day last year.
Electricity demand is inching closer to last year's level but experts feel it is mostly due to hot weather, particularly in the plains of northern India. Andhra Pradesh, Madhya Pradesh, Bihar, Delhi and Uttar Pradesh are closer to last year’s electricity demand level.
SB Energy, renewable energy arm of SoftBank, has mandated Bank of America Merrill Lynch and Barclays to help raise $500-$750 million in SBG Cleantech — it’s 80:20 joint venture with Bharti, multiple people aware of the development said.