State to derive an Overall Net Benefit of approximately Rs. 11,000 crores through UDAY. The State would have savings of about Rs.950 cr. in annual interest cost through reduction of debt and through reduced interest rates on the balance debt.
In a significant move and following months of persuasion by the Centre, Tamil Nadu came on board the power ministry’s flagship scheme UDAY. By signing the MOU under UDAY, the State Government is taking over 75% of debt of Rs. 30,420 crores of TANGEDCO. The scheme also provides for the balance debt to be re-priced or issued as State guaranteed Discom bonds, at coupon rates around 3-4% less than the average existing interest rate.
Tamil Nadu's joining the scheme will make the UDAY club grow to 21. States of Assam and Telangana have signed MoUs early this week, a move that will see an overall net benefit of approximately Rs 6116 crores accruing to Telangana and Rs 1663 crores to Assam.
Power ministry’s flagship scheme, the Ujwal DISCOM Assurance Yojana (UDAY) will have soon have an important state-Tamil Nadu on board, likely by next week. With Discom losses of Rs 50,000 crore, Tamil Nadu’s joining will see over 90% of total DISCOM debts getting covered under the UDAY scheme.
UDAY Club grows to 20, Assam and Telangana sign MoUs. Overall Net Benefit of approximately Rs. 6116 crores to Telangana and Rs. 1663 crores to Assam States with over 90% of Total DISCOM Debts to be covered under UDAY after Tamil Nadu comes on board: Piyush Goyal
In line with the government’s “Digital India Initiative’, Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal launched the Ujwal DISCOM Assurance Yojana (UDAY) Web Portal & Mobile App, in the capital on Wednesday. The portal and App would help track and monitor the progress of DISCOMs on […]
Anupama Airy India is moving fast on the power capacity generation front and from a power deficit nation, it is presently a power surplus region. Just a day back on December 26, state-owned NTPC Ltd inked an agreement to import 160 mw to India’s strategic neighbour Nepal. With 2016 coming to an end, the Modi […]
The DHBVN or Dakshin Haryana Bijli Vitran Nigam--- one of the two state power distribution companies of Haryana that joined the UDAY scheme on March 11, 2016 has not just been able to completely wipe out its losses for the first time but has also posted a profit of Rs 201.35 crore in the first half of the current financial year (2016-17) as against a loss of Rs 479 crore last financial year (2015-16).
In what comes as a big success for the Union minister for power, RE, coal and mines, Piyush Goyal (who spent days and months in convincing states to join the Centre’s flagship scheme —- UDAY or Ujwal DISCOM Assurance Yojana for the financial and operational turnaround of state power distribution companies), India has got its first state power distribution company that has been able to eliminate its losses after joining within 10 months of joining UDAY.
Uttar Pradesh has benefited from the Centre's UDAY scheme with its AT&C losses down over 1% from 34.22% to 33.03% (as per provisional figures of MoP as on Sep 5, 2016). Rajasthan's AT&C losses are down 27.32% as against 28.9% while that of Haryana and Bihar by another 0.5-0.8%.
Bonds Worth Rs 1.7 lakh crore have been issued by states Under UDAY Scheme and the AT&C Losses are also Down by 1-2%. Rajasthan takes the lead in issuing bonds under the Centre’s UDAY Scheme at Rs 71k crore followed by Uttar Pradesh at 44,510 crore and Haryana at Rs 25,951 crore
A Memorandum of Understanding (MOU) under UDAY was signed on October 7th between the power ministry (Government of India), the State of Maharashtra and the DISCOM of Maharashtra (MSEDCL).
Maharashtra has become the 17th State to join the UDAY – “Ujwal DISCOM Assurance Yojana”, the Centre’s financial and operational turnaround scheme for state power distribution companies (DISCOMs). The move will see the state reap benefits of Rs 9,725 crores by way of cheaper funds, reduction in AT&C losses and enable it to eliminate the gap between cost of supply of power and realisation.
Citing a social audit of about 4,500 people conducted by Price Waterhouse Coopers (PwC) in SDMC area in May 2016, EESL said the audit shows that at an average 99.5% people feel that the LED street lights have contributed in enhancing the security of the vulnerable groups during nights. About 99.75% of the people responded that the intensity & the brightness of the LED street lights is better than the earlier street lights.
Energy Efficiency Services Limited (EESL) has strongly refuted all claims of having installed faulty LED street lights in their project in the South Delhi Municipal Corporation (SDMC) area. Under the Government of India’s Street Lighting National Programme (SLNP), over 1.98 lakh conventional street lights have been replaced with LED street lights in Delhi.
The scheme is presently operational in 18 states and 4 Union Territories and will be rolled out soon in West Bengal and North Eastern states in the coming days. In the remaining states and Union Territories, the decision to roll out the scheme is pending with the respective state governments.
Cutting down on India’s coal imports thereby savings billions of dollars of forex outgo every year, state-owned Coal India has sufficiently ramped up coal production and is currently sitting in a surplus state. Most thermal power plants in India have atleast a 20-25 days of coal surplus from a situation of coal shortages or critical coal stocks at power plants.
The government will soon do the first auction of a one year contract on coal which will not be linked to any end use requirement. This according to union minister for power, coal, RE and mines, Piyush Goyal will be the government’s first step towards commercial availability of coal.