The hike in prices of coal by state-run CIL is likely to make producing steel for secondary steel players costly by up to Rs 500, says a report.
Power tariffs across the country are set to rise by 11 paise per unit or 2 per cent on the back of the 9 per cent hike in thermal coal prices announced by state-run miner Coal India Ltd (Ltd) on Monday.
With oil prices on the boil, the government will be under pressure to cut excise duty on petrol and diesel to help soften the impact on consumers, credit rating agency Icra said today.
With crude oil prices hovering at over two year-highs, the losses faced by Indian Oil marketing Companies (OMCs) on subsidized sales of petroleum products are seen rising to a range between Rs 22,000 crore and Rs 25,000 crore in the current financial year.
Even as the tariff competitiveness of wind energy has improved as against the conventional energy sources, its viability continues to be a challenge, says ICRA.
Rating agencies Moody’s Investors Service and ICRA today said they have a stable outlook for the Indian power sector over the next 12-18 months and expects a change in its energy mix towards renewables.
Acute coal shortages in India are beginning to take their toll on the country’s aluminium producers, as several of the major aluminium firms are unable to obtain sufficient quantities to keep captive power plants in operation.
Nearly 60,000 mw of thermal power projects in the IPP (independent power producers) segment are stressed mainly for want of long-term power purchase pacts and unavailability of domestic gas supplies, says a report.
The viability of solar projects bid at below Rs 3/mWh may be adversely affected if the increase in solar panel prices by 6-7 cents/watt sustains over coming quarters, said ratings agency Icra on Tuesday.
India’s crude oil import bill jumped over 20 per cent to $56.25 billion in the first seven months (April-October 2017) of the current financial year and is likely to rise up to $90 billion by March 2018 – a 29 per cent increase over last fiscal. The swelling oil bill could further impact the already widening trade deficit and push up inflation.