Tepid Power Consumption In Chhattisgarh Despite Soaring Temperature
The demand for power in Chhattisgarh is not rising in sync with the temperature in the state, which has reached about 40 degress in the capital, Raipur. Instead there has been a decline in electricity offtake in the state
Air-conditioners and coolers in major cities in the state were indeed switched on to beat the heat during the first week of April.
However, the state-owned Chhattisgarh State Power Distribution Company (CSPDC) is in a fix, because power consumption is down to almost 1,000 Mw in what the company considers as peak season.
“Normally the demand increases to 4,500-Mw in April, but this year it is only 3,500 Mw,” CSPDC officials said. A plausible explanation offered was that consumption has been lower this season due to the Covid-19 lockdown, which has forced shut industrial units and commercial establishments, which are large consumers.
ALSO READ: Telecom infra players urge states to reduce power tariffs amid coronavirus
The industrial sector only consumed about 40 per cent of the total demand. Following the decrease in offtake, the Chhattisgarh State Power Feneration Company had curtailed production at its units.
While the generating company has been able to cut production costs the distribution company would have to take a loss of about Rs 500 crore, the officials said. It has already beem reeling under a crisis as the state government had subsidised power for consumer by halving electricity tariff.
The lockdown didn't make matters any better. This is because steel makers and small industrial units in the sate had come out with a fresh demand to revive their sectors. They had urged the state government to reduce power tariff for the industrial sector, which is a major customer of the power distribution company in the state.
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more