Energy Stocks Today: Shares of power companies like IEX, Tata Power, Torrent Power and NTPC were on investors' radar on Wednesday, April 3, after the government announced some major measures to meet power demand during the summer season.
The Ministry of Energy has ordered companies to review planned maintenance commitment from 1.7 GW in April and from 6 GW to 9 GW in June. It has been decided that efforts will be made to schedule or shift the planned outages of thermal units to the monsoon season, the government said in its press release on Tuesday.
At 10.49 am today, IEX shares were trading at Rs 143.10 apiece, up 0.53 per cent; Tata Power shares were trading at Rs 411.80 apiece, up 0.71 per cent; Torrent Power shares were trading at Rs 1,479.45 per share, up 0.96 per cent, and NTPC shares were trading at Rs 343.40 each, down 0.41 per cent on the BSE .
Why energy stocks are in the spotlight
On Tuesday, April 2, Union Minister for Power and New and Renewable Energy RK Singh held a series of meetings in which he highlighted the need to ensure zero load shedding during the summer season.
In a meeting held at the Ministry in the third week of March this year, it was emphasized that all stakeholders should carry out proper planning to avoid a situation where one state has surplus electricity while another has shortage of electricity. energy.
Later on April 2, the ministry held another meeting to review the status of electrical capacity of all thermal power plants that experienced partial outages. According to the government, the amount of capacity available during partial outages has decreased and actions have been proposed to reduce it further.
Besides scheduling planned outages of thermal units for the monsoon season, capacity additions in coal, hydropower, nuclear, solar and wind will be monitored to accelerate their commissioning, the ministry said.
In the summer season from April to June 2024, electricity demand is expected to increase by 260 GW, up from 243 GW in September last year.
The government will also hold a meeting with gas-fired power plants to review the operation of gas-fired capacity during the summer season.
Surplus energy will be put up for sale on the Energy Exchange
It was also stated that all thermal power plants must supply their surplus electricity in energy exchanges, as required by the recently published guidelines. Compliance has been required to be reviewed periodically and notifications issued in case of non-compliance with instructions.
Electricity volume during the nine months of FY24 was 79.9 billion units, up 13 percent compared to the first nine months of FY23 at 70.7 billion units. In Q3FY24, total volume increased by 17 percent.
