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The government plans to introduce the Electricity (Amendment) Bill, 2025, in the upcoming budget session to prevent losses for distribution companies. The bill proposes cost-reflective tariffs, multiple distribution licensees, and phasing out cross-subsidies for major consumers within five years. Stakeholder discussions are ongoing. View More
New Delhi: The government will in the upcoming budget session of Parliament, table the Electricity (Amendment) Bill, 2025, which will have provisions that would prevent distribution companies from incurring further losses, power minister Manohar Lal said on Monday. Lal made the remarks on the sidelines of the inauguration of IIT-Delhi-CERC-Grid India Centre of Excellence in the national capital. A draft amendment bill was put out by the ministry in October for views. The bill proposed a slew of changes to the Electricity Act, including mandating state regulators to set cost-reflective tariffs , easing rules for multiple distribution licensees , and creating a high-level electricity council to take forward consensus-based reforms in the sector. The amendments seek to fully eliminate cross-subsidy for manufacturing enterprises, the Indian Railways and metro railways within five years after the Act is amended. Public comments have been received and further discussions with major stakeholders are likely in the upcoming Chintan Shivir this week, a government official said. Live Events .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
The Power Ministry has proposed to take over the development of nuclear projects, including those with reactors under IAEA safeguards, from the Department of Atomic Energy. This move, aimed at streamlining nuclear power development, follows discussions prior to the Shanti Act's promulgation, which allows limited private participation in the sector. View More
New Delhi: The power ministry has proposed that the development of nuclear projects be brought under its ambit. It has sent the proposal to the cabinet secretariat for amendment in allocation of Business Rules of the Ministry of Power for the same, said people familiar with the development. The ministry had proposed to include development of nuclear power projects with reactors under the International Atomic Energy Agency safeguards in its business list. The suggestions were made before the promulgation of the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (Shanti) Act in December 2025. The Shanti Act enables limited private participation in the nuclear sector under regulatory oversight. At present, the Department of Atomic Energy (DAE), under the Prime Minister's Office, is the administrative authority for nuclear power-related matters. Live Events Queries emailed to the power ministry and the DAE remained unanswered till press time. ET had last year reported that initial discussions were on for the power ministry to handle civil nuclear power generation. The discussions later slowed down as the government focused on the finalisation of the bill, according to people familiar with the matter. An industry executive said that strategic plants and major factors such as safety, regulatory and compliance should remain with the DAE. The Shanti Act strengthens the Atomic Energy Regulatory Board and also puts fuel and spent fuel within the domain of the DAE, apart from some other sensitive activities. India's roadmap to achieve 100 GW of nuclear energy capacity by 2047 prescribes that nearly half of it be developed by the Nuclear Power Corporation of India Ltd , which comes under the DAE. Of the rest, 30 GW is to come through NTPC Ltd , which falls under the power ministry. The Shanti Act states that tariff calculations will remain with the central government. The earlier Atomic Energy Act, 1962, stipulated that the tariff would be governed by the DAE in consultation with the Central Electricity Authority, the planning body under the power ministry. "Rules will give more clarity on tariff determination issues," said one of the persons cited earlier. India's installed nuclear capacity is about 8.8 GW, accounting for less than 2% of the country's total electricity capacity. The Centre has set a target of scaling this up to about 21 GW by 2032 as part of its long-term energy transition strategy, which also includes 500 GW of non-fossil capacity by 2030 and the addition of firm baseload power to support increasing electricity demand. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
India Budget 2026: Power Minister Manohar Lal announced that amendments to the Electricity Act are slated for introduction in the upcoming Budget session. These changes aim to reform the power sector, ensure profitability for debt-ridden distribution companies, and address ongoing financial challenges. The proposed bill seeks to promote financial discipline and healthy competition within the sector. View More
Union Budget 2026: Power Minister Manohar Lal on Monday said the Electricity Amendment Bill is likely to be introduced in the upcoming Budget session of Parliament. The bill seeks to bring reforms in the power sector and ensure the profitability of debt-ridden power distribution companies . The minister made these remarks on the sidelines of the inauguration of the IIT-Delhi-CERC-Grid India Centre of Excellence in the national capital. On Sunday, the power ministry said that power distribution utilities have jointly recorded a profit of Rs 2,701 crore in FY25 after having incurred losses for several years. However, about 50 discoms are still in losses, the ministry said. Live Events On strategies to make all discoms profitable, Lal said, "In the next Budget session, we are bringing amendments to the Electricity Act so that discoms don't face losses and receive timely payments". Also, a consultation meeting is being scheduled with the state representatives to discuss proposed amendments to the Electricity Act, a senior ministry official told PTI. As per a government document, the Electricity (Amendment) Bill, 2025, also aims to preserve the federal balance, promote cooperative governance, healthy competition, and enhanced efficiency of the sector. The amendments will not only strengthen the power distribution sector through financial discipline but also strengthen the framework for addressing the challenges of the power sector, as stated in the FAQ on the Electricity (Amendment) Bill, 2025. The government's ongoing efforts to bring amendments to the Act have also attracted criticism from several sections. The All India Power Engineers Federation (AIPEF) has opposed it, arguing that the bill proposes multiple distribution licensees to use the existing network of government dioscoms. "The bill seems to support privatisation motives. The central government continues to press ahead with its privatisation agenda through the Electricity (Amendment) Rules," AIPEF Chairman Shailendra Dubey said. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Thermal's share is expected to ease to about 72 per cent this fiscal from nearly 75 per cent in fiscal 2025, before slipping below the 70 per cent mark next year. View More
New Delhi: The share of thermal power in India's electricity generation is set to drop below 70 per cent for the first time next fiscal, driven by slower growth in power demand and a sharp rise in renewable energy (RE) output, Crisil Ratings said Monday. Thermal's share is expected to ease to about 72 per cent this fiscal from nearly 75 per cent in fiscal 2025, before slipping below the 70 per cent mark next year. As a result, plant load factors (PLFs) for thermal power plants are projected to moderate to 64-66 per cent this fiscal and next, from 69 per cent in fiscal 2025. Despite the decline, a pickup in long-term power purchase agreements (PPAs) and a healthy outlook for base-load demand are reviving capital expenditure in the thermal segment. While this will push up leverage for thermal power producers over the next three to four years, steady cash flows and controlled debt levels are expected to keep credit profiles stable. Live Events Power demand growth is likely to slow to 1-2 per cent this fiscal due to an early monsoon and a relatively mild summer, before rebounding to 4-6 per cent next fiscal on a low base. Even so, demand growth over this fiscal and next is expected to average below 4 per cent, weaker than the 5.6 per cent recorded over the past five fiscal years. In contrast, RE generation is forecast to grow at a compound annual rate of 18-20 per cent over the same period, supported by 75-85 GW of capacity additions. A strong pipeline of utility-scale projects and rising commercial, industrial and rooftop installations will allow renewables to meet most of the incremental power demand. "Despite its declining share, thermal power remains critical as the grid's ability to absorb renewable energy is constrained by the intermittent nature of RE and the nascent adoption of energy storage solutions," said Manish Gupta, Deputy Chief Ratings Officer, Crisil Ratings. "This has sparked a revival in capex in the thermal power sector." Furthermore, distribution utilities have begun entering into long-term thermal PPAs to ensure round-the-clock power supply. "Thus, almost 85 per cent of the 60 GW operational capacity held by Independent Power Producers (IPPs) is now tied up (vs 79 per cent at the end of last fiscal) through PPAs, providing improved revenue visibility and reducing volatility associated with the merchant market," he said. About 85 per cent of the 60 GW operational capacity held by IPPs is now tied up through PPAs, up from 79 per cent at the end of last fiscal, improving revenue visibility and reducing exposure to merchant market volatility. Most PPAs feature a two-part tariff structure, with capacity charges and variable charges. Capacity charges are fully recoverable if normative availability levels are met, insulating cash flows from PLF volatility. Around 40 per cent of the tied-up capacity follows a cost-plus structure, allowing full pass-through of coal costs, limiting financial risk even if PLFs decline. For capacity awarded through competitive bidding, the impact of lower PLFs on operating cash flows is expected to be marginal, as variable charges form a smaller portion of overall cash flows. An analysis of 26 IPPs, representing over 75 per cent of private thermal capacity in India, shows leverage improving sharply in recent years. "Buoyed by healthy cash flows, IPPs in our rated portfolio saw debt-to-Ebitda (leverage) decline from a high of 7.0 times in fiscal 2020 to 2.2 times in fiscal 2025," said Dushyant Chauhan, Associate Director, Crisil Ratings. However, the revival in thermal capex by select players will slightly increase leverage, peaking at 3.0 times by fiscal 2029. Thereafter, it will "normalise once new thermal capacities get commissioned" and start generating cash flows, he said. Most expansions are being undertaken by established players, backed by long-term offtake arrangements, limiting execution risks. With strong and sustained cash flows, their debt-servicing ability is expected to remain intact. The projections remain sensitive to weather conditions affecting power demand and the pace of renewable capacity additions, Crisil added. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Clean Max Enviro Energy Solutions Ltd., a renewable energy company backed by Brookfield Corp., is preparing to launch its initial public offering in February with a reduced deal size, according to people familiar with the matter. View More
Clean Max Enviro Energy Solutions Ltd., a renewable energy company backed by Brookfield Corp., is preparing to launch its initial public offering in February with a reduced deal size, according to people familiar with the matter. The Mumbai-based company is now planning an IPO of about $350 million to $400 million, down from an earlier proposed size of roughly 52 billion rupees ($573 million), the people said, asking not to be identified as the information is private. Discussions are ongoing, and details, including the timing and size of the offering, could still change. A draft prospectus filed in August outlined plans to raise as much as 15 billion rupees through the sale of new shares, alongside a secondary offering of about 37 billion rupees from existing investors, including US-based Augment Infrastructure Partners. A spokesperson for Clean Max didn’t respond to requests for comment. The industry has recently been plagued by valuation challenges as most Indian energy-related stocks that listed last year are trading below their offer prices. Vikram Solar Ltd. has fallen nearly 28% from the offer price, while Solarworld Energy Solutions Ltd. and Saatvik Green Energy Ltd. are down about 24% and 16%, respectively. Emmvee Photovoltaic Power Ltd. and Fujiyama Power Systems Ltd. are also trading below their offer prices. Live Events “Earnings growth at renewable energy companies has been constrained as transmission infrastructure has failed to keep pace with generation capacity,” said Siddarth Bhamre, head of research at Asit C Mehta Investment Intermediates. “In addition, an oversupply of solar panels has also weighed on pricing, impacting profitability at some firms.” While deals continue to boom in Asia — particularly in Hong Kong and mainland China — India’s IPO market has had a slower start to the year after companies raised a record $22.36 billion in 2025. About eight companies have raised roughly $160 million so far in January, according to data compiled by Bloomberg. Still, the pipeline remains strong, with more than 200 companies having either received regulatory approval or filed draft prospectuses with the Securities and Exchange Board of India, the regulator’s website shows. Brookfield owned a 42.9% stake in Clean Max as of August, while Augment held nearly 20%, according to the prospectus. Axis Bank Ltd ., IIFL Capital Services Ltd., BOB Capital Markets Ltd ., SBI Capital Markets Ltd., along with Indian units of JPMorgan Chase & Co., BNP Paribas SA, HSBC Holdings Plc and Nomura Holdings Inc., are among the banks managing the share sale, according to the IPO prospectus. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Total income increased 18 per cent year-on-year to ?8,691.85 crore. Revenue from the power segment rose to ?6,322.36 crore, while overall quarterly revenue stood at ?2,150.74 crore. View More
BHEL, Indigo, Kotak Bank, BPCL, Adani Green, Eternal, Hindustan Zinc, Hindustan Petroleum among marquee companies to release their Q3 results FY26 this week. View More
As for their mantra for economic development, Kapur said the best thing is to ‘do no harm’ View More