Panel Explores Power Purchase Cost Options For Gujarat’s Three Stressed Plants
A three-member high powered committee set up by the Gujarat government held a meeting in Delhi yesterday to discuss options for its three stressed power projects struggling because higher cost of imported coal.
The panel, headed by former Supreme Court Justice RK Agrawal and comprising former RBI Deputy Governor SS Mundra and former Chairman of Central Electricity Regulatory Commission Pramod Deo, met stakeholders from procurer states, including Maharashtra, Punjab, Rajasthan and Haryana. It also met representatives of state distribution companies that signed power purchase pacts and the heads of energy departments of these states.
Since the Supreme Court has indicated that there is no provision of pass through in power purchase agreements, it is considered whether there should be a renegotiation of this issue and, if so, under what conditions, a senior state government official of Haryana told BloombergQuint requesting anonymity. He said states reiterated that they would like to continue procuring power at the same price which was decided when the pact was signed.
A definitive decision, however, has not been reached. Adani Power, Essar Power Gujarat Ltd. and Tata's Coastal Gujarat Power Ltd. are facing viability issues after the Supreme Court barred them from passing higher costs of coal imported from Indonesia to consumers.
While all stakeholders' views were taken into account, this is just the first of the series of meetings needed to find a solution, a committee member told BloombergQuint on condition of anonymity.
Haryana has resumed buying from Adani Power and Tata's Coastal Gujarat Power, the official quoted earlier said. The state is procuring power at the same cost that was decided in the agreement.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
