Power 20:20 | Distribution Company with the most profitability in public sector - UGVCL
Uttar Gujarat Vij Company Ltd commenced independent commercial business from April 01, 2005 pursuant to notifications of the state government, as an independent distribution licensee engaged in distribution and retail supply of electricity to northern parts of Gujarat, following the unbundling of the erstwhile Gujarat Electricity Board (GEB).
Oil Minister Pradhan favours lower cess for explorers
India´s oil minister on Tuesday favoured a proposal by explorers to cut a key levy linked to crude prices from the current 20 percent.´I am recommending the demand of explorers to the finance ministry,´ Dharmendra Pradhan, minister of petroleum and natural gas, said at an industry event. ´Cess has to be in line with oil market dynamics.´
Govt orders probe into 400-MW SMHPC project
The government has ordered an enquiry into ´operation and mismanagement´ of Shree Maheshwar Hydel Power Corp (SMHPC) even as promoter Mukul Kasliwal and main lender Power Finance Corp trade charges of serious lapses that delayed and derailed the country´s first private hydropower venture.
Wings in Motion
Though a free energy resource, wind is much intermittent than solar, with speeds varying within minutes and affecting power generation. In cases of high speeds, there can be overloading of generator. Besides this, wind energy is harnessed through turbines - the setting up of which require research, technical know-how and most importantly land.
Three PSU banks decline info on import of coal
Citing customer confidentiality, three state-owned banks, including State Bank of India (SBI), have declined to provide information with their overseas branches regarding transactions by leading power companies which are being probed for alleged overvaluation of coal imports, pegged at Rs 29,000 crore
The Cash Crunch
Public sector banks in India are staring at humongous piles of bad debts, delinquent loans are rising unabated. Ballooning bad debts have caused 10 Indian state-owned banks to report losses of a whopping Rs.153 billion for the March, 2016 quarter. India Ratings, a Fitch associate, estimates that 21 per cent of the total bank credit is stressed.
Rajeev Sharma has been appointed as Chairman and Managing Director (CMD) of Power Finance Corporation (PFC), a Navratna Public Sector Undertaking. Sharma is presently CMD of Rural Electrification Corporation Ltd.
Maharashtra industrial power rate cut in May
The long wait of industries for reduction in power tariff in Vidarbha and Marathwada is now over as the state cabinet is expected to clear the proposal in this regard in first week of May.
Mines ministry moots scrapping export tax on iron ore from Goa
The Mines Ministry has written to the Finance Ministry to propose scrapping a 10 per cent export duty on low-quality iron ore from Goa, an official said, as miners urge the government to help boost sales amid a sharp fall in prices