Himachal facility generating power costlier than market rate: CAG
A state-run hydropower project in Himachal Pradesh, being funded by the Asian Development Bank, which was partially commissioned last year after cost overruns and delays, is generating power much costlier than the market rate, report of the Comptroller and Auditor General (CAG) said.
Govt wins nine cases on coal block auctions
The government has won all the nine cases in which high courts have given verdict on petitions filed by coal block bidders following disputes over e-auction provisions, according to government data. The winning spree can be considered a vindication of the e-auction as these nine favourable verdicts came even as 31 of the 40 cases which were disposed of by the courts were either dismissed or petitioners decided against pursuing them.
Dubai Witnesses World´s Biggest Power Event
Low oil prices have failed to dent the global power industrys confidence in the region, and the record-breaking 2016 edition of MEE validates the opportunities in the regions power markets despite the low oil price environment.
POWER TODAY, through this story, tried to highlight the status check of these two reforms and importantly, the issues that the officials of State Electricity Boards (SEBs) and the implementing agencies have shared with us.
Coal auction proceeds to cross Rs.2 lakh crore: Govt
Proceeds from the ongoing coal block auctions are likely to cross Rs 2 lakh crore, surpassing CAG´s estimate of Rs 1.86 lakh crore loss on account of the allocation of blocks without auction during the UPA regime.
Way back in 2012, the then Comptroller & Auditor General Vinod Rai had estimated that the country had lost Rs 1.86 lakh crore due to the way coal blocks were handed out. The resulting scandal may well have been the single most important reason for the eventual demise of the UPA.
CAG not factoring project delays if decision is not taken: RIL
Reliance Industries has contested CAG´s draft observations on some payments the company made to contractors of KG-D6 fields, saying the auditor had not considered the contract requirement of factoring consequences of delays in procurement of goods and services on the project.
India should scrap benchmark pricing
The overall investment environment in NELP got affected due to uncertainties in the contract administration, says Debasish Mishra, Senior Director, Deloitte India (Energy Practices). Every gas field has different geology and several other factors affecting cost of production.
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