Connect with us

National

Leveraging AI to Establish Cost-Reflective Tariffs for the Financial Sustainability of the Power Sector: Insights from Shripad Naik

Published

on

Union Minister of State for Power and New & Renewable Energy, Shripad Yesso Naik, emphasized the crucial role of artificial intelligence and digital innovations in the power sector, along with the necessity of instituting cost-reflective tariffs to ensure its financial viability. He asserted that these initiatives will enhance the financial sustainability of utility companies. Additionally, Naik called for the introduction of a scheme akin to UDAY.

His comments were made during the third meeting of the Group of Ministers convened to tackle issues concerning the financial stability of electricity distribution utilities in Lucknow.

The Minister of State further pointed out the importance of establishing a financial restructuring mechanism for the liabilities of distribution utilities. This includes reducing the interest burden, developing energy storage solutions, and enabling daytime power supply for agriculture, all aimed at lowering overall power purchase costs and alleviating subsidy pressures. He urged states to exhibit stronger political will and commitment to enhance the viability of the power sector and encouraged the member states to build upon ideas discussed during the meeting.

Uttar Pradesh Energy Minister A K Sharma shared the state’s achievements in the power sector, particularly in adopting renewable energy technologies. He praised the Indian government’s initiatives, noting their significant potential to strengthen and improve the distribution sector.

Sharma stressed the urgent need for rapid growth in renewable energy sources, along with energy storage solutions, to effectively address future energy demands and challenges associated with the energy transition.

During the meeting, the Joint Secretary (Distribution) from the Ministry of Power presented key intervention areas identified in the previous meetings of the Group of Ministers (GoM) and proposed measures for stakeholders—including Central and State Governments and Regulatory Commissions—to consider in addressing financial viability.

As a special invitee, TATA Power Distribution from Odisha shared successful best practices from their journey towards profitability.

Discussions at the meeting highlighted the importance of reviewing regulators’ performance in tariff determination. Members also talked about the necessity for regulators to keep pace with sector developments, including the current levels of renewable energy integration, capacity building needs, and operation & maintenance costs in tariff calculations.

Concerns were raised regarding delays in payment of government departmental dues and subsidies, which compel distribution companies (DISCOMs) to resort to working capital loans not reflected in tariffs. To prevent future tariff shocks, linking tariffs to annual inflation was suggested.

The recommendation was made to invite the All India DISCOM Association (AIDA) to participate in the next GoM meeting for their insights. The group unanimously decided to hold the fourth meeting of the GoM in Andhra Pradesh in April.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

MoD Issues Warning About Fake WhatsApp Messages Requesting Donations for Indian Army Modernization

Published

on

The Ministry of Defence has issued a warning regarding a deceptive WhatsApp message that solicits donations for the modernization of the Indian Army. This message, which falsely implicates Bollywood actor Akshay Kumar, includes a bank account for donations.

The fraudulent message claims that during a cabinet meeting, the Modi government decided to open a bank account for contributions towards the modernization of the Indian Army and for soldiers injured or martyred in conflict zones. It states, “Another great decision by the Modi government on superstar Akshay Kumar’s suggestion—just Rs 1 per day to support the Indian Army. Yesterday, the Modi government opened a bank account during a cabinet meeting for the Army and soldiers in war zones. Every Indian can donate any amount starting from Rs 1 to an unlimited sum. These funds will also be used to purchase weapons for the Army and paramilitary forces.”

Additionally, the message suggests that if 70% of India’s 1.3 billion population donates even one rupee daily, it would accumulate significant funds—transforming into 100 crores in a day, 3,000 crores in a month, and 36,000 crores in a year. It emphasizes that Pakistan’s annual defense budget doesn’t even reach Rs 36,000 crore and encourages citizens to contribute for the country’s ambition to become a superpower.

In response, the Ministry of Defence has clarified that the account details provided in the message are incorrect, resulting in failed online donations. “Individuals should be vigilant and avoid falling victim to such scams. The government has launched numerous welfare schemes for soldiers who are killed or disabled in active duty,” the statement asserted.

The Ministry highlighted the establishment of the ‘Armed Forces Battle Casualty Welfare Fund (AFBCWF)’ in 2020, which provides immediate financial assistance to the families of soldiers who lose their lives or suffer severe injuries during military operations. The Indian Army, under the Department of Ex-Servicemen Welfare, manages the fund’s accounts. Contributions can be made directly to the Armed Forces Battle Casualties Welfare Fund, with correct bank account details provided in the official announcement.

Continue Reading

National

Customs Officials Detain Passenger with 2 kg of Gold Bars at Delhi Airport

Published

on

Customs officials at Indira Gandhi International Airport in Delhi have apprehended an Indian passenger attempting to smuggle two kilograms of gold bars valued at around Rs 1.91 crore, according to a statement from the Customs Department on Sunday.

The individual, a 40-year-old man from Jaipur, Rajasthan, was flagged by customs officers based on profiling measures. Following his arrival from Dubai on Friday, the necessary legal actions are being taken in accordance with Customs regulations.

The authorities intercepted him at the green channel exit.

Upon conducting an X-ray examination of his luggage, customs officials noticed suspicious images. Although the Door Frame Metal Detector (DFMD) did not signal any alerts for the passenger, a thorough inspection of his baggage led to the discovery of the gold bars.

Continue Reading

National

Telangana Appoints K. Ramakrishna Rao as New Chief Secretary

Published

on

K Ramakrishna Rao, currently the Special Chief Secretary (Finance), has been appointed as the new Chief Secretary of Telangana, set to take over after A Santhi Kumari retires on April 30. Rao, an IAS officer of the 1991 batch, brings extensive experience in state budget preparation.

In a recent reshuffle, several IAS officers were transferred, including Smitha Sabharwal, who served as the Secretary for Youth Advancement, Tourism, and Culture. She has been assigned to the Finance Commission just as the Miss World beauty pageant approaches, marking its first occurrence in the state.

Sabharwal reportedly faced backlash from the Chief Minister due to a Ghibli-style AI-generated image of bulldozers connected to the Kancha Gachibowli issue she shared on her ‘X’ account, leading to police summons. Jayesh Ranjan, formerly the industry secretary, has now taken over her position in the tourism department.

Jayesh Ranjan also steps into the Chief Minister’s office as CEO of the Industry and Investment Cell. Additionally, R V Karnan has been appointed as the GHMC Commissioner, previously known for conducting rigorous inspections and imposing fines on food establishments for hygiene violations.

M Dana Kishore, who was overseeing the Municipal Administration and Urban Development Department, has been transferred to the Labour Department.

Continue Reading

Trending