Weekly Power Sector Round up: 30th October 2021

Power prices correct on the exchange

Electricity prices in the day-ahead market and real-time market on the Indian Energy Exchange saw a significant price correction on account of improved coal supplies and demand drop following the onset of the winter season.

The average price over the last week corrected to Rs 3.75 per unit in the day-ahead market and to Rs 3.03 per unit in the real-time market. Two weeks prior, the prices were about Rs 14 per unit.

Odisha provides 100% exemption on taxes on EVs

The Odisha government has made 100 per cent exemption on motor vehicle (MV) taxes and registration fees on electric vehicles in accordance with the Odisha Electric Vehicle Policy, 2021.

“The state government in exercise of the powers conferred under the Odisha Motor Vehicles Taxation Act, 1975, do hereby allow 100 per cent exemption of motor vehicles taxes and also registration fees in respect of all types of battery operated vehicles (electric vehicles) during the policy period, i.e. up to December 31, 2025,” read the notification issued by the State Transport department in this regard.

Under the policy, the government has proposed to extend financial incentives for manufacturing industries, buyers, scrapping along with interest subvention in loans, waiving of road tax & registration fees during the policy period (five years). It has also decided to give incentives under the Startup Policy. As per the policy, the state will provide 15 per cent subsidy, a maximum of Rs 5,000 for two wheelers, Rs 10,000 for three-wheelers, and Rs 50,000 for four-wheelers on the base price.