Pool pricing: CEA counters views of Coal India independent directors
Rakesh Kumar Kubde
October 12th, 2012
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The Central Electricity Authority (CEA) has said that Coal India’s independent directors’ observation that the miner would incur losses of Rs 3,000 crore by implementing the proposal for pool pricing is “not correct”. “CEA has given the explanation to the nodal Power Ministry. The proposal mooted is ‘revenue neutral’ for Coal India,” a senior CEA official told Business Line. The CEA, which furnished details to the Power Ministry last week, said that it is “not favouring the power companies” and if fuel supplies at 80 per cent of plants’ demand have to be met, some of that gap has to be met by imported coal. Continue

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Merge debt-ridden Suzlon, REPower: SBI
Rakesh Kumar Kubde
October 12th, 2012
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State Bank of India, which has a Rs 3,500-crore of fund and non-fund based exposure to Suzlon Energy, today said the Pune-based wind power major should look at leveraging the balance-sheet of its German subsidiar RE Power, and a merger. "Suzlon needs to leverage the RE Power balance sheet and probably in the long-run, merge these two operations. Because when they merge, the profitability of the whole group can go substantially higher using low-cost of production here," SBI deputy managing director, large corporates, Santosh B Nayar said. Noting that RE Power is practically debt-free and has got huge cash pile, he said the German arm is also ring fenced by German banks. Continue

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SEBs to curtail short-term power purchase upto 10%
Rakesh Kumar Kubde
October 12th, 2012
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The State Electricity Boards (SEBs) debt restructuring plan, approved by the cabinet, has fixed a targeted framework for reduction of short-term power purchases. According to the plan, which has been made part of the whole exercise at the insistence of finance ministry, SEBs taking part in the restructuring will have to cut down their short-term power purchases by 5-10% every year, taking 2011-12 as the reference year. A senior finance ministry official told Business Standard that short-term power purchase was being seen as one of the major reasons behind the deterioration of financial health of the SEBs. Hence, the power ministry agreed for the introduction of a framework for capping it. Continue

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Delhi Electricity Regulatory Commission gives RWAs week for views on tariff
Rakesh Kumar Kubde
October 12th, 2012
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Power regulator DERC on Thursday decided to give RWAs time till October 17 to give their written submission on the issue of rationalization of the slab system, as proposed by the commission earlier this month. The public hearing to take the final call on scrapping of 0 to 400 unit slab and restoring the original slab of 0-200 units and 201 to 400 units was scheduled on October 8. But it was called off after RWA and BJP members staged protest and took DERC chairman, P D Sudhakar, hostage for an

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Tidco awaits policy push to boost solar capacity
Rakesh Kumar Kubde
October 12th, 2012
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State-owned Tamil Nadu Industrial Development Corporation (Tidco) is awaiting a clearer policy directive from the state government to take forward its given task to establish 1,000 mw of solar power capacity in association with private sector in five years. With the state electricity board not in a position to offer any concession to private power producers, Tidco is banking on the new policy, expected to be unveiled by the state government anytime, to prepare a base for inviting private players, a Tidco official said. Continue

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