Power generation growth doubles up to 9.5 per cent in 2016: Piyush Goyal

By: |
New Delhi | Updated: July 04, 2016 6:17 PM

There is some good news for the power sector in the economy with an increase of 9.5 per cent this year in the power generation growth.

Power Minister Piyush Goyal tweeted that there was 87 per cent reduction in energy shortage in the two years of governance from 110 million units (mu) to 14 million units (mu). Power Minister Piyush Goyal tweeted that there was 87 per cent reduction in energy shortage in the two years of governance from 110 million units (mu) to 14 million units (mu).

There is some good news for the power sector in the economy with an increase of 9.5 per cent this year in the power generation growth.

The power generation increase is double the growth in the last decade recorded as 5.65 per cent. Power Minister Piyush Goyal tweeted that there was 87 per cent reduction in energy shortage in the two years of governance from 110 million units (mu) to 14 million units (mu).

The Vidyut Pravah application stated that the power was available at Rs. 1.8 per unit in states such as Jammu & Kashmir, Punjab, Delhi, Rajasthan, Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, Telengana and Odisha.

Surplus power of 3,961 mw was available to meet a total demand of 123 GW.

With no network congestion, power could be made available at below Rs 2 per unit rates yesterday at exchanges. He said, “This reflects country moving towards One nation, One grid, one price.”

Piyush Goyal tweeted that

“There is a two fold reason behind this increase. Earlier availability of coal to power plants was minimum, now every station has a pile of stock for atleast 7 to 15 days. The other reason was non-availability of cheap gas,” said Ashish Kumar Dutta, Power Purchase Department at Tata Power Delhi Distribution Limited.

He also said that After the KG Basin D6 gas field shut down, cheap gas was only available to LPG and steel industry.

“The new RLNG spot gas, reduced prices in crude oil and gas along with incentive schemes has improved the power generation capacity in the country,” he added. 

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Care Ratings revises downward GDP forecast to 9.2% for FY22
2Moody’s cuts India’s growth forecast to 9.3 pc, risks of longer-term eco scarring
3India might see ‘serious livelihood crisis’, says economist Jean Dreze