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MUMBAI: A major upgrading of its refinery in western India by refiner Essar Oil should boost its margins by up to $5 a barrel, its chief executive said on Thursday, adding nearly three quarters of a billion dollars to its annual revenues. Essar has just completed a $1.6 billion...
NEW YORK: US natural gas for delivery this fall is trading at a record premium, signaling the fuel may be poised to rebound from its worst quarter in two years because of production cuts and rising demand from power plants. Gas futures for delivery in October traded at an...
NEW DELHI: The power ministry has written to the Cabinet Committee on Infrastructure to mandate a uniform 50% risk weight to bank loans for state-owned Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), a move which could lead to banks doubling their exposure to these companies if it...
MUMBAI: In yet another push for granting open access to all electricity consumers with power requirement of 1 Mw and above, the power ministry, exercising its power under section 107 of the Electricity Act, 2003, has issued directives to the Central Electricity Regulatory Commission (CERC) stating that regulators have...
NEW DELHI: The Attorney General (AG) has advised the government that if it wants to revoke the permission given to Reliance Power to divert surplus coal from mines attached to the Sasan power project, it will have to show that the company violated the terms under which it was...
India’s installed power generation capacity crossed two lakh MW last week. However, there is little cheer as demand continues to soar. The Central Electricity Authority indicates that against a peak demand of 130,250 MW, the deficit was 11.1 per cent or 14,458 MW for 2011-12. For Mumbai alone, the...
KOLKATA: NTPC will not sign separate fuel supply agreements (FSAs) for new units and old units at the same power station as is now required by Coal India. It intends to sign the same set of contracts – the one it has already signed for some of its units....
NEW DELHI: Power companies have sought intervention from the power ministry to ensure that coal supply is maintained to power plants through the memorandum of understanding (MoU) route until fuel supply agreements (FSAs) are signed. This comes after the Central Coalfields Ltd (CCL), a Coal India Ltd subsidiary, recently...
LONDON: Nuclear energy should be considered a clean energy source, Mr Montek Singh Ahluwalia, Deputy Chairman Planning Commission, said that at the end of the 23-Government Clean Energy Ministerial meeting that took place in London this week. Mr Ahluwalia, who represented India at the third CEM conference, said that...
NEW DELHI: In a twist to the unending drama over coal supply, Coal India Ltd (CIL) has refused to supply to power plants commissioned since December 2011. The move is set to stall investment worth Rs 40,000 crore in new power capacity of 8,156 Mw. This includes a 300-Mw...