POWER TARIFF HIKE
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.
Is a big boost to power financiers likely in Budget? Deven Choksey answers
Reliance Jio's strategic timing aligns with 5G advancements and tariff adjustments, poised to boost revenue and shareholder value. The company's emphasis on EBITDA margin growth and potential IPO plans suggest a positive outlook for unlocking shareholder value. Deven Choksey says that 12 months forward, with a Rs 1,45,000-1,50,000 crore revenue book, 55% EBITDA margin cannot be ruled out .
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.
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.
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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.
Be cautious in power stocks; take some money off PSU banks: Nischal Maheshwari
There has been over-exuberance in the power sector. Whether it is the equipment, the supplying company, whether it is the generation guys, all have done well in the last year. So, Centrum Broking's Nischal Maheshwari recommends caution on the whole sector per se and says one should be very stock-specific.
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.
EVs versus pork: China has its hand on a raw nerve of Europe
The escalating trade tensions between Europe and China over electric vehicles have the potential to ignite a new trade war. As Europe imposes tariffs on Chinese EVs, China retaliates by targeting European farmers, particularly in the pork industry. This tit-for-tat strategy threatens to impact various sectors on both sides.
Chinese automakers seek retaliatory tariffs on EU cars, state media reports
Industry insiders say both Europe and China have reasons for wanting to strike a deal in the months ahead to de-escalate tensions and avoid the addition of billions of dollars in new costs for Chinese EV makers, as the EU process allows for review.
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.
Europe wants affordable electric vehicles from China. But not at the cost of its own auto industry
The European Union plans to increase tariffs on Chinese-made electric vehicles due to unfair subsidies. This move aims to address the surge in Chinese EV exports to Europe, posing a threat to EU manufacturers and green tech industries.
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.
Chinese firms turn from ‘Panda’ to ‘Skunk’ as US tensions flare
Chinese investments in the US have trailed behind smaller economies like Spain and Singapore in recent years, according to the US Bureau of Economic Analysis.
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.
The US can't be protectionist and world leader
US President Joe Biden's economic nationalism challenges the Pax Americana legacy. The Smoot-Hawley Tariff Act of 1930 symbolises a protectionist era leading to global conflict.
Overheating electricity: How India can address supply shortages and renewable energy challenges
With temperatures soaring to record levels across India, the Government of India has taken steps to address the impending surge in electricity demand by instructing idling power plants to increase operations. This move comes as a response to the high demand for electricity not translating into adequate purchases by utilities, leading to shortages in power supply.
The business ties that bind the U.S. and China are strong but fraying
Many big U.S. companies depend on China for a substantial part of their income and rely on Chinese suppliers and factories for their products.
US efforts to reshape global supply chains gather pace in Asia
President Joe Biden's tariff hikes on Chinese imports are reshaping Asian trade routes, with Taiwan's exports to the US surging over 80% in April.
Biden sharply hikes US tariffs on Chinese chips, cars & other items worth billions
President Joe Biden announced a significant increase in tariffs on various Chinese imports, including electric vehicles and medical products, to address what the White House deems unfair trade practices. The move aims to bolster U.S. economic security but risks straining relations with Beijing ahead of the upcoming election.
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."
Will NTPC, NHPC and Power Grid benefit from CERC's draft tariff regulations?
While Jefferies in its review of power utility stocks has said that the regulations will likely have a limited impact as it remained positive on the prospects of the sector. In its view, the regulated returns on equity (ROE) for the thermal power segment will remain unchanged at 15.5%.
Airtel may take lead in raising tariffs, won't charge extra for 5G for now: MD Gopal Vittal
Bharti Airtel, India's largest telecom company, may take the lead in implementing overall tariff hikes but will not charge extra for 5G services at this time. Gopal Vittal, the managing director, emphasized that the focus is on making the telecom industry viable through vibrant competition and affordable tariffs, with financial viability. Vittal also raised concerns about international tech players testing the delivery of messages, including OTPs, over platforms other than SMS, as it can lead to phishing, fraud, and spam issues for which telcos can be held liable.
Siddaramaiah blames BJP for power tariff hikes, promises meeting to work out solution
Meeting delegations from various industry associations, the CM blamed the previous BJP regime for leaving the state in a sea of debt. His Congress regime had inherited Rs 11,000 crore in dues the previous government owed to electricity supply companies (Escoms). This had been a result of fiscal indiscipline of the BJP government, Siddaramaiah said.
Gruha Jyoti scheme not cause of power tariff hike; cost not passed on to others: Karnataka CM Siddaramaiah
“It is wrong to think that the burden of Gruha Jyoti Yojana has been put on others,” Siddaramaiah told a delegation of Federation of Karnataka Chambers of Commerce and Industry (FKCCI). The delegation led by its President B V Gopal Reddy met the CM at his home office 'Krishna'.
Maharashtra, Goa woo industries from Karnataka’s border areas as anger builds up over hike in power tariff
Belgaum Chamber of Commerce & Industry president Hemendra Porwal said officials from the neighbouring states were in touch with them and offered better subsidies than in Karnataka if they wished to invest in their state.
Karnataka bandh on June 22, industry body KCCI protesting against power tariff hike
The Karnatak Chamber of Commerce and Industry (KCCI) has said that the increases in power tariffs are “abnormal” and has asked all trade and industry to close their establishments on 22 June. Many industry associations, including those from Mysore, Shivamoga, and Bellary, have also showed support for the movement. Despite the move by the KCCI, the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) has yet to sign up.
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