Airlines: Traffic to zoom beyond 100 mn in 2017
With 23 per cent domestic passenger growth in the eight months till August, India has emerged as the fastest growing air travel market in the world, outperforming China, which grew 10 per cent. Brazil and Russia have seen a decline. What’s more, domestic air traffic is poised to grow around 15 per cent in 2017, on the back of low fares, improved regional connectivity and economic growth, say executives and experts. Low fares have led to a rise in discretionary travel and higher demand for airlines. Sector-wide passenger load factors rose to 83.7 per cent in the eight months of calendar year 2016 from 82.6 per cent in the corresponding period in 2015, and too on increased capacity. The domestic jet fuel price is 10 per cent lower year-on-year, giving airlines the cushion to decrease fares. On an average, fares are 10 per cent lower over last year and in July-September airlines took to last-minute discounting matching Rajdhani air-conditioned 2-tier train ticket fares. “The healthy growth underlines relatively strong demand from both business as well leisure travellers. Competitive pressures and lower fuel prices have been a facilitator through low fares,” said Subrata Ray, group vice-president, corporate sector ratings, ICRA. With induction of new aircraft, airlines are opening direct routes and this, too, is pushing passenger growth. “We expect 15 per cent traffic growth per annum for the next three years. Domestic traffic will exceed 100 million in 2017 and airlines will continue to increase capacity to keep market share,” said Boeing’s senior vice-president (Asia-Pacific), Dinesh Keskar. He said the regional connectivity scheme (first flight expected in January 2017) will further boost growth. Connor Hellebuyck Womens Jersey
Regional air link scheme may use e-auction path
The civil aviation ministry will start the bidding process of routes under the regional connectivity scheme (RCS) from early next month and it has sought the coal ministry’s suggestions on e-auctioning. The government will unveil the final RCS policy soon after which it will invite bids from the airlines wanting to fly on regional routes. The Airports Authority of India (AAI), the nodal body entrusted to implement the ambitious scheme, has written to the coal ministry to share its experience on the modus operandi of the coal block e-auction process. The civil aviation ministry will do the bidding of the routes through state-owned Metal and Scrap Trading Corporation (MSTC) — the body which conducts the coal mine and iron ore auction. A senior MSTC official confirmed the development and said the corporation was in the final stages of setting up the portal for the bidding process. Randy Bullock Jersey
Green panel nod to Chennai Airport Phase 2 modernisation project
Airports Authority of India (AAI) has been asked to conduct public hearing for its proposed Rs 2,587 crore second phase of Chennai Airport modernisation project as its gets central nod for preparing environmental impact study for the same. AAI had completed the first phase of the project four years back. Now, it has proposed to start the second phase. The proposal involves reconstruction of old terminals (T2 and T3), development of multi-level car parks and integrated common user cargo complex and augmentation of contact bays, among others. “An Expert Appraisal Committee (EAC) under the Union Environment Ministry examined the AAI’s proposal recently and gave approval for the terms of reference (ToRs),” a senior government official said. ToRs are guidelines specified for conducting environmental impact studies of projects based on which the Ministry grants or rejects clearance to a project.
Worried about power theft, police opt for underground cables
Big Brother may not be watching motorists all the time. Some of the CCTV cameras installed to monitor the traffic are defunct. And in other places, the power that keeps the cameras running is being stolen. A recent survey revealed that unidentified citizens are illegally tapping into the power lines connecting CCTV cameras installed at major junctions. There is only one way to stop this pilferage, say senior traffic police officers. “We have decided to go for underground connections with fibre optic cables for power and connectivity,” said Additional Commissioner of Police (traffic) R. Hitendra who headed the inspection team. Though pilferage was detected only at a few junctions, it is a matter of concern. According to him, Bescom has sanctioned supply for some CCTV cameras without a meter. The department pays a lump sum amount to Bescom every month. “However we have noticed that many illegal connections have been drawn from such power lines,” he said. In addition to this, around 25 cameras not functioning due to ongoing construction activities. “Because of this, the traffic department is unable to access the situation in these areas,” Mr. Hitendra added. Bengaluru has around 340 cameras installed at various junctions. By the end of this year, there are plans to add another 600 CCTV cameras. Tennessee Titans Jersey
Green panel nod to Chennai Airport Phase 2 modernisation project
Airports Authority of India (AAI) has been asked to conduct public hearing for its proposed Rs 2,587 crore second phase of Chennai Airport modernisation project as its gets central nod for preparing environmental impact study for the same. AAI had completed the first phase of the project four years back. Now, it has proposed to start the second phase. The proposal involves reconstruction of old terminals (T2 and T3), development of multi-level car parks and integrated common user cargo complex and augmentation of contact bays, among others. “An Expert Appraisal Committee (EAC) under the Union Environment Ministry examined the AAI’s proposal recently and gave approval for the terms of reference (ToRs),” a senior government official said. ToRs are guidelines specified for conducting environmental impact studies of projects based on which the Ministry grants or rejects clearance to a project. Ryan Tannehill Jersey
NTPC’s regulatory woes increase Power Grid’s appeal
Among power utilities, public sector enterprises NTPC Ltd and Power Grid Corp. of India Ltd are viewed as safe investments. The companies work on a regulated business model and did not make oversize bets till now. This strategy by and large helped them avoid the pitfalls their private sector peers encountered and deliver superior stock returns. But changing market conditions and regulations are testing this thesis, especially for NTPC. After altering the incentive formula to actual utilization instead of power plant availability, regulator Central Electricity Regulatory Commission (CERC) is now proposing to change the fuel costs calculation mechanism. Against the current mechanism of “as fired” basis, CERC stipulates that NTPC calculate the gross calorific value (GCV) of the coal “on arrival” basis. Through this, the regulator wants to make NTPC accountable for the heat loss if any from the unloading point to the time coal gets fired. If implemented in the new format, the order can raise the company’s electricity production cost as the coal is said to see noticeable loss in GCV in transportation. The order right now does not apply to all plants. But if extrapolated, then NTPC’s earnings estimates may see significant cuts. The development comes amid a changing power sector landscape. Increasing availability of cheaper electricity in the spot or merchant power markets means states are no longer showing enthusiasm in signing long-term power purchase agreements (PPAs). In fact, some states are even said to be backing down on high-priced agreements and are meeting their electricity requirements through short-term contracts. These factors are raising questions about NTPC’s ability to recoup its returns from the earlier setback of the change in incentive calculation formula from plant availability to actual utilization method. According to Edelweiss Securities Ltd, this uncertainty can weigh on the NTPC stock and drive its underperformance vis-à-vis Power Grid, whose earnings are seeing no such risks. Power Grid gained 34% in the last one year, compared to NTPC’s 16%. “The bigger challenge is whether these orders mean that the regulator is incentivizing distribution/transmission vs generation, and if so NTPC’s elusive RoE (return on equity) pick-up may get pushed back,” Edelweiss said in a note. Of course, this is not to say NTPC is losing its competitive advantage. The order can be appealed. NTPC is still better off when compared with private electricity producers due to its strong financial position and profitable PPAs. But changing regulations and risk to returns mean NTPC’s earnings lack Power Grid’s certainty. Further the latter’s earnings are seeing positive momentum, thanks to high capacity additions the company is expected to see this year. Antonio Gates Authentic Jersey
Follow transparency or will cut financial aid: Goyal to UP
Union Power Minister Piyush Goyal warned Akhilesh Yadav-led state government that it would not receive any “financial help” in the future from the Centre if it doesnt follow transparency while implementing Central schemes. “As far as electrification is concerned, the states position is bad. If state government do not put board highlighting details of the work on websites, and transparency is not followed, the Centre will stop financial help to the state,” Goyal said while addressing the audience at a programme here. The minister said only 5 lakh houses were electrified as against the proposed target of 10 lakh under the 11th five-year plan. He said under the 12th five-year plan too the state government managed to electrify only 1.25 lakh houses against the proposed target of 32 lakh. “The state government is claiming that 4.97 lakh houses have been covered,” Goyal remarked. He said the state government has received Rs 12.707 crores for rural and urban electrification schemes before BJP-led NDA government came to power, but this amount was not utilised. Later talking to reporters, Goel termed Rahuls “dalali” jibe as “unfortunate” and said that “his statement has been hailed in an enemy country (Pakistan)”. “From coal allocation to other cases, Congress hand is infamous for dalali. People of the country will give a befitting reply to the Congress for the childish statements,” he said. “How can a country trust a leader, who cannot save his khat(cot),” he asked. Duke Dawson Authentic Jersey
BSES receives encouraging response to Solar Net Metering
BSES, part of the Rs 1,000 crore Reliance Infrastructure, today annouced it has installed 206 net metering connections with a sanctioned load of over 7 Megawatt across the country. BSES after realizing its orders becomes the first discom in the country to install over 200 net metering connections, according to a company press release. Net metering is a billing device that shows solar energy system owners the electricity they add back to the grid. A customer with a PV rooftop system can monitor the electricity generated during daylight hours and can also observe the electricity fed back to the grid, using a net metering system. “Consumers have begun to see the benefits of roof stop solar and how it reduces their electricity bills due to which the response to Net Metering has been incredibly encouraging,” said a BSES official. Both Government of India and the Delhi Government have very ambitious renewable energy plans and the potential of roof top solar in BSES area is in excess of 250-300 MW, the media statement added. “Consumers opting of solar net metering save between Rs 1000 per month to around Rs 10 lakh per month,” added the official. Forty schools and educational institutes have opted for ‘Net Metering’ connections from BSES with a total sanctioned load of over 1600 KW. These schools include Vasant Valley, Tagore International, New Era Pubic School, Father Agnel School, Venketeshwara School, Bhatnagar International School, and M S Mukerjee Memorial School. BSES further has nearly 50 connections with a sanctioned load of over 1.5 MW are under various stages of commissioning at the consumer’s end. Christian Jones Womens Jersey
Discoms embrace solar energy in a big way
Delhiites are finally beginning to take to green energy production in a big way. The BSES discoms reported that they have energised 206 net metering connections with a sanctioned load of over 7MW (over 7,000 kW). Apart from this, nearly 50 connections with a sanctioned load of over 1.5MW are under various stages of commissioning at the consumer’s end. Some of the recent takers for green energy generation are Delhi Cheshire Home, Vasant Valley School, East Point School, Dayal Singh College, DMRC, a Church in Mayur Vihar, Kohli Imports and Exports, Spartan Management Services and the Delhi Secretariat. The BSES discoms claimed they were the first power distribution utility in the country to have such a large number of net metering connections. “Consumers across categories have warmed up to rooftop solar net metering. An interesting trend that has emerged is that Educational Institutions (and schools), Commercial Establishments and Domestic Users have taken to Net Metering in a big way,’’ said a spokesperson. Many prominent schools and educational institutes have opted for net metering connections with a total sanctioned load of over 1,600kW (over 1.6MW). These schools include Vasant Valley, Tagore International, New Era Pubic School, Father Agnel, Venketeshwara, Bhatnagar International, St Cecilia’s Public School, East Point, Vivekanand Public School and M S Mukerjee Memorial School. “The response to net metering has been incredibly encouraging. Consumers have begun to see the benefits of rooftop solar and how it reduces their electricity bills. BSES has energised net metering connections ranging from a sanctioned load of 1kW to 1,000kW. These consumers save between Rs 1,000 to around Rs 10 lakh per month,” said a BSES official. Both Centre and Delhi government have very ambitious renewal energy programmes and are actively pushing for green energy generation. The potential of rooftop solar in BSES area is in excess of 250-300MW, said officials. Net metering regulations were notified by the DERC in 2014 and outline how people can generate renewable energy on their premises and reduce their electricity bills through the amount of power they supply to the grid. “With this, consumers can set up their own solar panels and either supply directly to the grid or use it partially. Whatever you supply to the grid, you can draw back whenever you need it,” a DERC official said.
India gets first Iranian oil parcel for emergency reserves
India has received the first parcel of Iranian oil to partly fill its strategic storage in southern India, Mangalore Refinery and Petrochemicals Ltd, which imported the very large crude carrier (VLCC), said on its website. MRPL shipped in 2 million barrels of Iranian oil in the VLCC Dino. India will fill half of the storage with 6 million barrels of Iranian oil while continuing talks with United Arab Emirates and Saudi Arabia for the remainder. A second parcel to be procured by Bharat Petroleum Corp. is scheduled to arrive around Oct. 25, two sources with direct knowledge of the matter said. India, which is seeking to hedge against energy security risks as it imports about 80 percent of its oil needs, is building emergency storage in vast underground caverns at three locations in southern India to hold a total of 36.87 million barrels of crude, enough to cover almost two weeks of demand. Lamarcus Joyner Womens Jersey