Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
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Moily to meet regulators over Electricity Act amendments
Issues like amendments to the Electricity Act 2003, relating to section 11 invoked by states to curb open access; single buyer model; appraisal of regulators, etc are likely to dominate the discussion between power minister Veerappa Moily and the Forum of Regulators (FOR), a representative body of power regulators, on August 29. The power ministry has recommended the inclusion of a new section, 89 (6), to carry out annual review of regulatory commissions by a multi-disciplinary body, which would also report to the appropriate governments for necessary action. A new section, 153, would enable state governments to constitute special courts and mobile police stations as may be necessary for speedy trial of offences.
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Mundra UMPP, valuations mar Tata Power's prospects
With Mundra incurring losses and resolution of higher costs not likely soon, stock could feel pressure The Tata Power stock has underperformed broader markets in the current quarter, a trend likely to sustain, going ahead, due to concerns over its Mundra power project and stock valuations. Against a two per cent rise in the Sensex, Tata Power’s stock is down almost six per cent in the quarter so far. The 4,000 Mw Mundra ultra mega power project (UMPP) (set up under Coastal Gujarat Power Limited (CGPL) reported a net loss of Rs 165 crore in the June 2012 quarter, which was ahead of analysts’ estimates.
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Petrol may cost more by 3/litre
Mumbai: The stage is set for another round of petrol price hike with the Indian basket of crude oil increasing by over $10 to $113 per barrel since the prices were revised last on July 24. Given their
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Power companies question feasibility of LNG-based projects
While the offer to supply liquefied natural gas (LNG) at $ 9.5 per unit to gas-based power projects of India Gas Solutions (IGS) is going to pose a tough challenge for the other players planning to set up LNG facilities on the Andhra coast, the question of feasibility is a matter power companies are still unclear about. “It all boils down to how much price a merchant power producer can command at the exchanges if he has to run the plant with LNG that is procured at $9.5 per mBtu (million British thermal unit),” a senior official of a large private power company told Business Standard.
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RIL-BP to supply gas to Andhra power projects
Entering another important segment of the natural gas business, Reliance Industries Ltd and BP India are in talks with gas-starved power projects of Andhra Pradesh to supply long-term liquefied natural gas (LNG). India Gas Solutions (IGS), the equal joint venture between the two companies, is looking to sell LNG to five power producers in Andhra Pradesh — GMR, GVK, Lanco Infratech, Sravanthi Energy and Konaseema Gas — and would give them term sheets in the next few days.
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Govt Plans to Hike Diesel, Petrol Prices Next Mth
The petroleum ministry and state oil firms plan to raise diesel and petrol prices next month as crude oil rose to a three-month high last week and diesel consumption has soared because of the weak monsoon
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Union minister refutes Guj govt's claim on gas allocation
Union Minister of State for Petrochemicals and Natural Gas, RPN Singh on Sunday refuted claims made by Gujarat government of discrimination over allocation and pricing of natural gas. The minister who was in Ahmedabad to attend the review meeting of oil marketing companies alleged that the state government was misleading the people by giving out false information about the allocation of natural gas to Gujarat and also about the price that it was being given.
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RIL, Essar take fuel battle against OMCs to tribunal
Forced to scale down petroleum retail operations, Reliance Industries Ltd and Essar have taken their predatory pricing complaint against government oil marketing companies (OMCs) to the Appellate Tribunal for Electricity. In July, the PNGRB (petroleum and natural gas regulatory board) had dismissed a plea of these private fuel retailers against government oil marketing companies. Though the two companies are pursuing the case, Shell India has decided to withdraw.
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BPCL, HPCL oppose Indian Oil's call on petrol price control
Petrol pricing may officially be out of the government’s control, but a veiled intervention by the government has resulted in Indian Oil Corp and other state-run oil marketing firms Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) differing on what is the best solution. BPCL and HPCL see IndianOil's call for moving into a price control regime as a “retrograde step”. The government's fuel pricing policy led IndianOil, India’s largest oil marketing company, to post the biggest-ever quarterly loss at Rs 22,451 crore in the April-June period. While the oil marketing companies are compensated for revenue losses on diesel, cooking gas and kerosene, they are forced to take losses on account of petrol on their books.
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SC admits Adani Power plea against Aptel order
New Delhi Adani refused power supply to GUVNL due to rising coal prices The Supreme Court on Monday admitted Adani Power’s appeal against the Appellate Tribunal for Electricity’s order asking it to supply power to state utility Gujarat Urja Vikas Nigam Ltd (GUVNL) at an agreed price of R2.35 per unit for 25 years. Adani Power had, in December 2009, terminated its 2007 power purchase agreement (PPA) with the state utility for supply of 1,000 mw power on the grounds that it would not be possible to supply electricity at the earlier agreed tariff of R2.35 per unit due to high coal prices.