Weekly Power Sector Round up: 6th February 2021

Average spot power price up 11% at Rs. 3.18/unit in January: IEX

The average spot power price was up 11% to Rs. 3.18/unit in the day ahead market on the Indian Energy Exchange (IEX) in January, from Rs. 2.86/unit same month last year. The day ahead market (DAM) also saw 5,584 million units (MU) traded in January, a 17% year-on-year growth.

Ample power availability was registered with the total sell bids at 10,074 MU being almost two times that of the cleared volume.

Govt to push to delicense power distribution and GST on electricity: R K Singh

The government will delicense power distribution space to allow multiple suppliers, renew push for GST on electricity and bring changes in the Electricity Act to set up more benches in Appellate Tribunal for Electricity, Power & Renewable Energy Minister R K Singh said in an interview.

An amendment to the Electricity Act has been proposed to omit the term ‘distribution licensee’. He said that he doesn’t envision any resistance to this change.

Rs. 1.25 lakh cr worth of loans sanctioned under DISCOM liquidity package

Loans worth nearly Rs 1.25 lakh crore have been sanctioned so far by Power Finance Corporation and REC Ltd., the two state owned NBFCs, under the liquidity package for stresses Power DISCOMs which had been announced by the Finance Minister Nirmala Sitharaman in the wake of the COVID lockdown.

While Rs 1.25 lakh crore has been sanctioned, as of date, Rs 46,074 had been disbursed.