Merchant power rates in India have increased by 72% since March 2010 due to high demand in the summer months and lower hydroelectric generation. The average daily rate rose to Rs5.83/unit from Rs3.39/unit during the previous winter season. Shortages in the southern region also contributed to increasing tariffs. Rates are expected to remain high through June 2010 due to strong industrial and residential demand before moderating due to new power plant capacity.
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The growing Indian UPS market is highly competitive and fragmented. Price, after-sales service, and delivery are the key differentiating factors in addressing the demand of the market. The major challenges that UPS manufacturers face are the low-cost imports from China and Taiwan, as well as increasing raw-material prices. As end users have specific applications and different requirements, it is important for suppliers to offer customized solutions to survive and sustain high growth in this fiercely competitive market. Sizeable demand from the IT/ITES, Government and Manufacturing sector is driving the growth of the UPS market.
Free Trial in Intraday Tips,Option Tips,Stock Future tips...The GRS Solution
The GRS Solution is an SEBI registered investment advisory offering expert grounded trade recommendations for stocks and equity traded. The GRS Solution are providing accurate services for traders who wish to enjoy maximum returns and profit in <a href="https://www.thegrssolution.com/stock-future-tips">Stock Market Tips</a>and share market.
The growing Indian UPS market is highly competitive and fragmented. Price, after-sales service, and delivery are the key differentiating factors in addressing the demand of the market. The major challenges that UPS manufacturers face are the low-cost imports from China and Taiwan, as well as increasing raw-material prices. As end users have specific applications and different requirements, it is important for suppliers to offer customized solutions to survive and sustain high growth in this fiercely competitive market. Sizeable demand from the IT/ITES, Government and Manufacturing sector is driving the growth of the UPS market.
iData Insights, the leader in providing Research and Consultancy services is coming up with an incisive data series report titled “Power Tariffs in India: 2014-15” in February 2015.
The report is divided in to two volumes:
Volume I: It comprises of Retail Distribution Supply Tariffs 2014-15 applicable in different states of India. This includes information about Industrial, Commercial, Agricultural and Domestic Charges.
Volume II: The Second Volume will consist of Transmission and Generation Power Tariffs for the year 2014-15 applicable for different transmission and generation companies of India. This volume gives critical information about Wheeling, Cross Subsidy surcharge, Fuel Adjustment Charges, Open Access Charges, Renewable and Cogeneration Charges.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
Why enincon‟s report upon “ Power Distribution Tariffs in India 2018”?
With power distribution reforms gained momentum soon after the application of EA 2003 (where it was believed to be coined in mid 90‟s) , Indian power distribution utilities came along way since then. With, introduction of reforms and multiple cognitive steps undoubtedly the power distribution sector stands improved by leaps from the erstwhile levels. Having said that, it indeed still represents the weakest link of the power generation, transmission and distribution chain
Assessing the Impact of Tamil Nadu’s Electricity Tariff Policy on TANGEDCO’S ...AurovilleConsulting
Electricity consumption is one of the most telling indicators to assess a nation’s economic development. A financially robust and vibrant electricity sector is pivotal for economic growth and is considered vital for a nation’s overall development. Tamil Nadu is one of the states with free electricity for agriculture and electricity tariffs for several other consumer categories such as domestic, huts, etc., are subsidised by the Government of Tamil Nadu. In addition to the electricity subsidy provided by the Government, the state owned electricity utility, TANGEDCO, cross-subsidises the lower consumer tariffs from higher tariffs revenue. However even with the combination of Government of Tamil Nadu subsidies and cross-subsidies, revenue is significantly lower than costs. In 2015-16 TANGEDCO’s cumulative revenue gap was INR 30,884.15 Crore. This paper presents an analysis of the impact of Tamil Nadu’s electricity policies on the financial performance of TANGEDCO.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
iData Insights, the leader in providing Research and Consultancy services is coming up with an incisive data series report titled “Power Tariffs in India: 2014-15” in February 2015.
The report is divided in to two volumes:
Volume I: It comprises of Retail Distribution Supply Tariffs 2014-15 applicable in different states of India. This includes information about Industrial, Commercial, Agricultural and Domestic Charges.
Volume II: The Second Volume will consist of Transmission and Generation Power Tariffs for the year 2014-15 applicable for different transmission and generation companies of India. This volume gives critical information about Wheeling, Cross Subsidy surcharge, Fuel Adjustment Charges, Open Access Charges, Renewable and Cogeneration Charges.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
Why enincon‟s report upon “ Power Distribution Tariffs in India 2018”?
With power distribution reforms gained momentum soon after the application of EA 2003 (where it was believed to be coined in mid 90‟s) , Indian power distribution utilities came along way since then. With, introduction of reforms and multiple cognitive steps undoubtedly the power distribution sector stands improved by leaps from the erstwhile levels. Having said that, it indeed still represents the weakest link of the power generation, transmission and distribution chain
Assessing the Impact of Tamil Nadu’s Electricity Tariff Policy on TANGEDCO’S ...AurovilleConsulting
Electricity consumption is one of the most telling indicators to assess a nation’s economic development. A financially robust and vibrant electricity sector is pivotal for economic growth and is considered vital for a nation’s overall development. Tamil Nadu is one of the states with free electricity for agriculture and electricity tariffs for several other consumer categories such as domestic, huts, etc., are subsidised by the Government of Tamil Nadu. In addition to the electricity subsidy provided by the Government, the state owned electricity utility, TANGEDCO, cross-subsidises the lower consumer tariffs from higher tariffs revenue. However even with the combination of Government of Tamil Nadu subsidies and cross-subsidies, revenue is significantly lower than costs. In 2015-16 TANGEDCO’s cumulative revenue gap was INR 30,884.15 Crore. This paper presents an analysis of the impact of Tamil Nadu’s electricity policies on the financial performance of TANGEDCO.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
Varanasi Power Distribution Franchisee Model, 2015TechSci Research
High aggregate technical and commercial losses, distribution losses and electricity thefts in Varanasi district call for implementation of Power Distribution Franchise Model
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
India is the 5th largest power producer in the world with the total power capacity of more than 145,000MW. Despite growth in power generation capacity over various 5-Year Plans, India is facing huge power deficit with peak power deficit of about 16%.
The report provides a snapshot of the power sector in India, including the installed capacity and growth and value chain analysis. It provides overview of the various components of value chain – Generation, Trading, Transmission and Distribution.
The report includes an analysis of the government policies and incentives to boost the total installed capacity and also highlights the key trends and challenges in the power sector.
Competitive landscape identifies the public sector undertakings, domestic and international private players in power sector market. It highlights the presence of each player across the value chain, their installed capacity and key financials.
This report provides updated facts and figures on the evolution of the national energy market. For the oil, gas, coal and power markets, the report details the market organisation, institutions regulating the market, and energy policy of the country. Energy companies active on the market are analysed. Domestic production, capacities, exchanges, consumption by sector and market shares are provided. Energy prices levels and taxes are described. Finally, the driving issues, and the market prospects are proposed.
Comparative analysis of power and infrastructure sectorApurv Gourav
This powerpoint presentation is conclusion of my 2 month summer internship at anandrathi shares and stock brokers ltd,pune
Project title:- COMPARATIVE ANALYSIS OF POWER AND INFRASTRUCTURE SECTOR COMPANIES STOCK PRICES FOR THE FY 2007-2008 VIZ A VIZ NIFTY.
January 2015 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
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Our Team
INDUSTRY ANALYSIS : Telecom Industry
COMPANY ANALYSIS : Idea Cellular
BRAND ANALYSIS : Nike
Event Report
Concept of the month
1. Power
Sector Update | Power
April 15, 2010
Tariffs
Merchant Tariffs Rupesh Sankhe
Tel: 022 - 4040 3800 Ext: 319
E-mail: rupeshd.sankhe@angeltrade.com
Soaring heat leads to higher rates
V. Srinivasan
Merchant Power rates have begun to surge since March 2010, as the intensifying Tel: 022 - 4040 3800 Ext: 330
E-mail: v.srinivasan@angeltrade.com
summer has pushed up the mercury levels all across the country. Historically, the
summer months (March-June) witness heavy demand from both the consumer and
industrial segments, resulting in load shedding and in an upward push in the rates
of merchant power, as distribution utilities attempt to procure power at higher prices
to meet the increased demand. The prices of power in the short-term market (as
per the figures available from the Indian Energy Exchange, IEX) have been on an
upward swing since March 2010, after lying low for close to four months during
the winter. Apart from the increased demand, the fall in the generation of
hydro-based plants due to poor monsoons has also resulted in the upswing in
merchant power rates. The merchant rates are currently at their highest levels since
August 2009, and have touched day-high rates of Rs10/unit.
Merchant Tariffs up 72% since March 2010: Merchant rates in India have been on
Tariffs
an upward trend since March 2010, after remaining low in the winter season
(November-February). The average daily price since March is at Rs5.83/unit, up
72% over October 2009-February, 2010 (average price of Rs3.39/unit). Severe
shortages witnessed across India, particularly in the southern region, have resulted
in the increase in merchant tariffs. The southern region has been affected due to
grid congestion as well as the fall in wind power generation in Tamil Nadu. The
delay in the commencement of new power plants has affected supply across the
country, pushing up the merchant rates. We expect the merchant power tariffs to
remain high till June 2010, due to strong demand arising out of the increased
industrial activity and heavy demand in summer.
Surge in Power demand in Summer Months: The demand for power tends to surge
Power
in India during the summer months, due to the hot weather conditions resulting in
more consumption. Historically, the power deficit (base and peak) remains higher
than the yearly average during the summer months. In order to meet the growing
demand, the utilities resort to expensive buying to avoid load shedding. Although
the states are not expected to be politically compelled to provide uninterrupted
power as witnessed during General Election time in April - May, 2009, we still
expect the demand-side pressure to persist.
Please refer to important disclosures at the end of this report
2. Sector Update | Power
Exhibit: Average Day Ahead prices at Indian Energy Exchange (IEX)
16
Merchant Tariffs Rates down in
surged during winter and
14
General Elections picking up
since March
12
10
(Rs/kwh)
8
6
4
2
0
Apr-09 Jun-09 Aug-09 Oct-09 Dec-09 Feb-10 Apr-10
Source: IEX, Angel Research
Outlook
According to our estimates, the overall merchant power capacity addition is expected
to be around 10,000-12,000MW during Eleventh Plan period (FY2007-12). The
state-run Power Finance Corporation, which is the nodal agency for the development
of ultra mega power projects, would provide the necessary assistance to merchant
plant developers to accomplish timely implementation. Presently, the sale of power
under the Merchant basis appears to be an attractive option, considering the power
deficit prevalent in the country. Spot power prices have gone up significantly, after
declining to a low of Rs3.39/unit in October 2009 - February 2010; currently, a unit
costs Rs5.83 on average (Since March 2010). We expect spot prices to remain at these
levels through the April-June, 2010 period. However, large capacity additions lined
up by private and public sector players are expected to reduce the power deficit,
lowering Merchant power tariffs in turn.
The recent competitive bidding for supply of power at Rs2.7-3.2/unit can form the
base for merchant tariffs. We expect the power deficit to continue till FY2012E. We
estimate merchant tariffs to be at Rs4.5 and at Rs4/unit in FY2011E and FY2012E,
respectively. Companies like Jindal Power, JSW Energy and Tata Power are likely to be
the key beneficiaries of the higher merchant tariffs.
April 15, 2010 2
3. Sector Update | Power
Disclaimer
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risks of such an investment.
Angel Securities Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment
decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are
those of the analyst, and the company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading
volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources
believed to be true, and is for general guidance only. Angel Securities Limited has not independently verified all the information contained
within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents
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Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section).
Ratings (Returns) : Buy (> 15%) Accumulate (5% to 15%) Neutral (-5 to 5%)
Reduce (-5% to 15%) Sell (< -15%)
4. Sector Update | Power
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Research Team
Fundamental:
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Vaishali Jajoo Automobile vaishali.jajoo@angeltrade.com
Shailesh Kanani Infrastructure, Real Estate shailesh.kanani@angeltrade.com
Anand Shah FMCG , Media anand.shah@angeltrade.com
Deepak Pareek Oil & Gas deepak.pareek@angeltrade.com
Puneet Bambha Capital Goods, Engineering puneet.bambha@angeltrade.com
Sushant Dalmia Pharmaceutical sushant.dalmia@angeltrade.com
Rupesh Sankhe Cement, Power rupeshd.sankhe@angeltrade.com
Param Desai Real Estate, Logistics, Shipping paramv.desai@angeltrade.com
Sageraj Bariya Fertiliser, Mid-cap sageraj.bariya@angeltrade.com
Viraj Nadkarni Retail, Hotels, Mid-cap virajm.nadkarni@angeltrade.com
Paresh Jain Metals & Mining pareshn.jain@angeltrade.com
Amit Rane Banking amitn.rane@angeltrade.com
Rahul Jain IT, Telecom rahul.j@angeltrade.com
Jai Sharda Mid-cap jai.sharda@angeltrade.com
Sharan Lillaney Mid-cap sharanb.lillaney@angeltrade.com
Amit Vora Research Associate (Oil & Gas) amit.vora@angeltrade.com
V Srinivasan Research Associate (Cement, Power) v.srinivasan@angeltrade.com
Aniruddha Mate Research Associate (Infra, Real Estate) aniruddha.mate@angeltrade.com
Mihir Salot Research Associate (Logistics, Shipping) mihirr.salot@angeltrade.com
Chitrangda Kapur Research Associate (FMCG, Media) chitrangdar.kapur@angeltrade.com
Vibha Salvi Research Associate (IT, Telecom) vibhas.salvi@angeltrade.com
Pooja Jain Research Associate (Metals & Mining) pooja.j@angeltrade.com
Technicals:
Shardul Kulkarni Sr. Technical Analyst shardul.kulkarni@angeltrade.com
Mileen Vasudeo Technical Analyst vasudeo.kamalakant@angeltrade.com
Derivatives:
Siddarth Bhamre Head - Derivatives siddarth.bhamre@angeltrade.com
Jaya Agarwal Derivative Analyst jaya.agarwal@angeltrade.com
Sandeep Patil Jr. Derivative Analyst patil.sandeep@angeltrade.com
Institutional Sales Team:
Mayuresh Joshi VP - Institutional Sales mayuresh.joshi@angeltrade.com
Abhimanyu Sofat AVP - Institutional Sales abhimanyu.sofat@angeltrade.com
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Sandeep Jangir Sr. Manager sandeepp.jangir@angeltrade.com
Ganesh Iyer Sr. Manager ganeshb.Iyer@angeltrade.com
Jay Harsora Sr. Dealer jayr.harsora@angeltrade.com
Meenakshi Chavan Dealer meenakshis.chavan@angeltrade.com
Gaurang Tisani Dealer gaurangp.tisani@angeltrade.com
Production Team:
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Dharmil Adhyaru Assistant Research Editor dharmil.adhyaru@angeltrade.com
Bharat Patil Production bharat.patil@angeltrade.com
Dilip Patel Production dilipm.patel@angeltrade.com
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