POWER TARIFF
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union imposed provisional duties of up to 38 per cent on Chinese electric car imports due to alleged unfair state subsidies, sparking concerns of a trade war. The move was criticised by China as "politically motivated" and "protectionist." European countries are divided on the issue, with Germany fearing harm to its auto industry. Talks with China continue, with hopes for a negotiated solution to avoid escalating tensions.
Pakistan's federal cabinet approves hike of PKR 5.72 per unit in basic power tariff
Pakistan's federal cabinet has approved a significant hike in the basic power tariff, raising it by PKR 5.72 per unit. This increase, effective from July 1, 2024, will raise the average electricity tariff to PKR 35.50 per unit. The move aims to cover financial losses and support an IMF bailout, despite causing consumer strain.
Faster nod for power connection to EV charging stations proposed
The Indian government has proposed new guidelines to reduce the approval time for electricity connections for electric vehicle (EV) charging stations. The approval time in metropolitan areas will be cut from seven days to three days, and in municipal areas from 15 days to seven days. In rural areas, the time will be reduced from 30 days to 15 days. The draft guidelines also call for an online single-window clearance system for faster processing of these connections.
Jio, Airtel Tariff Hikes: Users can still avoid increased prices. Here's how
Reliance Jio and Airtel will raise tariffs from July 3, 2024, to boost Average Revenue per User (ARPU), impacting millions of subscribers. Prepaid users can avoid hikes by recharging before July 3. Adjustments range from 12% to 25% for Jio and 11% to 21% for Airtel. Postpaid users will see immediate changes in their billing cycles.
Jio, Airtel hike mobile tariffs: Here are some tips to save money on your mobile bills
Reliance Jio and Airtel are preparing to raise tariffs from July 3, 2024, prompting prepaid users to recharge before this date to avoid higher costs. Postpaid users will face immediate price adjustments. The goal is to increase Average Revenue per User (ARPU) for both telecom giants, affecting millions of subscribers across India.
Delhi's peak power demand grew 3.8x on hot and humid days in last 12 months: Report
Delhi's peak electricity demand surged due to temperature variations, with peak demand increasing by 711 MW on hot and humid days, 506 MW on cold days, and 188 MW on moderate days. The analysis by IEEFA highlighted the necessity of enhancing utility-scale solar power to meet rising demands and mitigate the impact of heatwaves.
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Chinese Communist Party expels two ex-defence ministers on corruption charges
The Chinese Communist Party has expelled two former defense ministers, Li Shangfu and Wei Fenghe, in an anti-corruption crackdown. This move follows Li's disappearance last year and comes amid rising tensions between China and the United States over Taiwan.
Jio hikes tariff by 12.5 to 25%; launches new plans
On Thursday, Jio, owned by Reliance, revealed a tariff increase ranging from 12.5% to 25% alongside the introduction of new plans. In the recent spectrum auction by the Department of Telecommunications, Jio secured additional 1800 MHz band spectrum for Bihar and West Bengal, as informed by Reliance Industries to the exchanges on Wednesday.
Budget 2024: Hi-tech thermal plants may get Rs 6,000 cr viability support
Budget 2024: The Union budget for 2024-25 is expected to include a support scheme for setting up 800 MW coal-based power plants using Advanced Ultra Supercritical (AUSC) technology. The finance ministry is evaluating a proposal for ₹6,000 crore viability gap funding (VGF) and a ₹3,500 crore payment security mechanism for electric buses. The project, based on indigenous technology developed by a consortium of Bharat Heavy Electricals Limited, Indira Gandhi Centre for Atomic Research, and NTPC, is expected to cost upwards of ₹15,000 crore at completion.
China and European Union agree to talks in bid to head off trade war
China and the European Union have decided to initiate talks aimed at resolving an increasingly tense tariff dispute, with billions of dollars in trade hanging in the balance. According to the Chinese Commerce Ministry, discussions will be held between China's commerce minister, Wang Wentao, and the European Union's trade commissioner, Valdis Dombrovskis. The focus will be on addressing the European Union's proposal to impose tariffs on electric cars imported from China, a move that has sparked significant concern.
China says escalation by EU over EV imports could trigger 'trade war'
Last week, the European Commission proposed tariffs of up to 38.1% on electric vehicle imports from China despite Beijing's protest, plunging trade ties to a new low and risking punitive retaliatory action. "The European side continues to escalate trade frictions and could trigger a 'trade war'," a statement attributed to the commerce ministry's spokesperson said. "The responsibility lies entirely with the European side."
Thermal plant load factor to remain healthy at 70 pc in FY'25 on power demand growth of 6 pc: ICRA
ICRA projects a stable outlook for the thermal power segment with a 70% thermal plant load factor expected in FY2025, driven by 6% power demand growth.
Electricity in Punjab to cost more as PSERC hikes power tariff by 10-15 paise per unit
The Punjab State Electricity Regulatory Commission (PSERC) on Friday announced a new tariff order which will be effective from June 16 till March 31, 2025.
Nitish Kumar may seek '1 nation 1 power tariff' in NDA negotiations
Nitish Kumar has been pushing for subsidized electricity rates from NTPC and other central producers. A senior JDU leader mentioned that Bihar buys electricity at a high cost and also provides consumer subsidies. Kumar might request a "one nation, one tariff" policy for electricity. With Bihar's assembly elections approaching in 2025, this issue is significant.
Chhattisgarh hikes power tariff by 8.35 per cent
Talking to PTI, CSERC secretary Sp Shukla said an average hike of 8.35 per cent in power tariff was applicable across all consumer categories. Power services are managed by three state-run companies for generation, transmission and distribution in the state.
India's power sector anticipates healthy growth in FY2025; demand seen remaining strong at around 6%
The healthy demand growth continued in the first two months of FY25 at over 10 per cent supported by a favourable base. The report stands validated by the record maximum power demand of 250 GW on May 30, as announced by the Ministry of Power.
NTPC proposes pooling entire capacity for supply to power distribution companies
If approved, the proposed move could ease supply and operations as the company would be able to sell power to a discom from any station and not restrict it to stage-wise units, people familiar with the matter said. The power purchase agreements (PPAs) with some discoms are signed in stages of commissioning and each stage is a separate entity for tariff and scheduling purposes.
NTPC Q4 Results: Net profit jumps 33% YoY to Rs 6,490 crore; dividend declared at Rs 3.25 per share
State-owned power giant NTPC on Friday posted a 33 per cent rise in its consolidated net profit to Rs 6,490.05 crore in the March 2024 quarter, mainly on the back of higher revenues. The company had reported Rs 4,871.55 crore consolidated net profit in the quarter ended March 2023, a BSE filing said.
Avaada Energy bags 1,050 MWp solar project
Avaada Energy has won a 1,050 MWp solar project through an NTPC-conducted auction, marking the largest single bid secured in the tender. The project, awarded at a tariff of INR 2.69 per kWh, is to be completed within 24 months of signing a 25-year Power Purchase Agreement (PPA). This achievement brings Avaada's portfolio to 15 GW in India.
European autos stocks hit on China tariff jitters
European autos stocks were the worst performing equity market sector on Wednesday, following a report that suggested there was potential for China to impose higher tariffs on cars.
India may add 25 GB wind energy capacity by 2028, need Rs 2 lakh crore: Crisil
India is set to significantly boost its wind energy capacity by adding nearly 25 gigawatts between fiscal years 2025 and 2028, driven by the increasing need for renewable energy and grid balancing. The government's target to auction 50 GW of renewable projects annually and stable average tariffs reflect India's commitment to sustainable energy solutions.
US firm becomes world's most valuable solar firm after Chinese rivals slip
First Solar Inc. becomes the world's most valuable solar manufacturer, surpassing Sungrow Power Supply Co. and ending China's dominance since 2018.
Amid IMF loan talks, cash-strapped Pakistan mulls 5-yr extension on $15.5 billion Chinese energy debt
Cash-strapped Pakistan is considering to seek a five-year extension on its $15.5 billion debt in the Chinese energy sector as talks with the IMF for a fresh loan continue. The consent of the Chinese government and Independent Power Producers is crucial for contract amendments, which may involve lengthy negotiations. The extension could lead to a reduction in tariffs for consumers and a rise in outstanding liabilities by $1.3 billion over five years, potentially easing financial burdens and stimulating economic growth.
Few Chinese electric cars are sold in U.S., but industry fears a flood
American automakers expressed their approval of the Biden administration's decision on Tuesday to levy a 100% tariff on electric vehicles imported from China. They stated that these vehicles could undercut billions of dollars of investments made in electric vehicle and battery manufacturing facilities in the United States.
Thermal PLFs to remain healthy amid power demand-supply mismatch: Report
India Ratings and Research (Ind-Ra) has maintained a neutral outlook for the power sector for FY25, predicting that thermal plant load factors (PLFs) will remain healthy due to a demand-supply mismatch. The agency believes that the overall plant load factor of thermal power plants will improve to reach closer to 70% in FY25. This is due to higher power demand, domestic coal production ramp-up, slower capacity additions, and dependence on coal-based generation until sufficient storage capacity is built up for the energy transition towards renewables.
Juniper Green inks pact with SJVN to supply 320 MW renewable energy
The 25-year PPA, secured at a tariff of Rs 4.38 per unit, propels Juniper's operational and under construction capacity to 2.5 GW.
Don’t foresee absolute power supply constraint current year: CARE Ratings
Sabyasachi Majumdar of CARE Ratings anticipates that there will be ample electricity available from various sources. The distribution companies' cooperation is crucial. Despite high costs, gas-based generation remains open for the peak season. Short-term tariffs are expected to stay elevated for now, driven by the robust PLFs and an election-year dynamics.
PFC Consulting transfers Solapur Transmission project to Torrent Power
State-owned PFC Consulting Ltd has transferred the Solapur Transmission project to private player Torrent Power. The selection of the successful bidder was done through a competitive bidding process for establishing a transmission system. The project-specific special purpose vehicle was transferred to Torrent Power, as per a statement by PFC. PFC Consulting is a subsidiary of Power Finance Corporation (PFC), a leading non-banking financial corporation under the Ministry of Power. The power ministry has nominated PFC Consulting as the bid process coordinator for selecting a developer for independent transmission projects through competitive bidding.
Tata Power consumers to pay more as MERC approves 24% hike
In its order, MERC said that the present tariff hike is necessitated mainly because there was under-recovery due to staying on tariff as determined in the MTR Order for FY 2023-24. "Had there been no stay, tariff for FY 2024-25 would have resulted in tariff decrease of 13% than approved by the Commission in MTR Order for FY 2024-25."
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