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Energy & Utilities

Transitioning to efficient, flexible, and competitive power contracting: Building a new energy order

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By Rajesh Kumar Mediratta, Director, IGX and Director (Strategy/RA), IEX When the COVID-19 preventive lockdown started in late-March, it brought with it the realization for the distribution companies about the value of flexible, competitive, and efficient power procurement. Many of them had been losing crores of rupees under the fixed charges for power contracted under long-term and medium-term power purchase agreements (PPA) irrespective of their quantum of power procurement. With drastic reduction in income from commercial and industrial users who are the most remunerative consumers in the system, the need for savings with flexibility has become more pertinent than ever before. The short-term power market, especially the electricity market on IEX, offered the cash-strapped distribution u...

Trading Green Power through Energy Markets

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By Indranil Chatterjee, Head – Risk, Alliances & Diversification Renewable energy has acquired the center stage among global economies and is today the fastest-growing source of energy in the world. With the signing of Paris Climate Agreement in 2016, renewables have become indispensable in the fight against climate change. India has been taking steps towards a sustainable economy by increasing the share of renewables in the energy mix to 450 GW by 2030. Renewable energy capacity in India is currently being added mainly through the competitive bidding route, wherein both the developer and the buyer enter into a long-term power purchase agreement (PPA). However, in recent years issues related to forced curtailment of renewable energy, payment disputes and long-term PPAs being renegotiat...

Will COVID-19 change the future of the electric grid?

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According to data from the IEA in their Global Energy Review 2020 report, the COVID-19 full lockdowns cut overall energy consumption about 25%, due mostly to reductions in transport fuel use. On the electrical grid, residential energy consumption did increase slightly, but reduced power use at industrial and commercial locations resulted in an overall reduction of electric power use by about 20% in areas under full lockdown. Partial lockdowns areas had proportionally less impact. IEA predicted that energy consumption in 2020 will stay at least 5% below 2019 levels. The stress of months of lockdowns, and voluntary isolation has already taken a toll on many businesses, with worldwide job losses and big shifts in energy use patterns. Unprecedented government backed economic stimulus funds are...

Why is Sustainable Energy Management Paramount in Today’s Day and Age?

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Before we start with anything else, let’s try to get our basics right. To begin with, sustainability is a broad discipline. It is a development that meets the needs of the present without compromising the ability of future generations to meet their needs. More often than not, the development is driven by one sole objective without considering other possibilities. All of us already can see the impact of the current approach, some of the large-scale financial crises are caused by irresponsible banking, and the changes in global climate is a result of our dependency on fossil fuel-based energy sources. If we keep on following unsustainable development, the more severe the consequences will become and to stop that we need to take action now and not postpone it. The bigger question here i...

Energy Sector: Diversify or Disappear

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Truth be told, one of the most challenging of all decisions to make for a business is whether to diversify and evolve or to stick with what already is and improve. The complexity behind this is huge considering the unimaginably high stakes and unpredictability involved, especially if this is done without thoughtful deliberation. In general, diversification could either be baseline diversification or other types of diversification such as ecosystem diversification. Baseline diversification refers to a process of diversifying into new areas that are adjacent to your industry and seek to offer customers greater choice. In the context of the energy industry, a mainstream energy company diversifying into renewables would be a great example of this. On the other hand, other diversification would...

Building a Gas Market in India

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By Rajesh Kumar Mediratta, Director, IGX and Director (Strategy/RA), IEX The Government of India has set a target of raising the share of natural gas in the primary energy basket to 15 percent by 2030, from the current 6.2 percent. In the recent Budget speech, Finance Minister Nirmala Sitharaman laid down plans for the expansion of the national natural gas pipeline network to 27,000 km from the present 16,200 km. She also announced pricing reforms as the Government looks at boosting the use of environment-friendly fuel. The Finance minister also said, “To deepen gas markets in India, further reforms will be undertaken to facilitate transparent price discovery and ease of transactions.” The Oil Minister Dharmendra Pradhan has also commented on these developments, noting that the Budget lays...

What makes Solar Energy Systems so important today?

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It is not a secret that power has been fundamental to the development of human civilization. . And, one doesn’t need to be an academician to realize the severity of the environmental problems that have resulted from the human efforts of harnessing it and making it accessible. Yet, electricity tariffs rise year after year, as does the ecological disbalance. To all this, solar energy offers a sustainable answer. Let’s understand, how?  Solar Energy Facilitates Sustainable Environment This is one of the most prominent benefits of harnessing solar energy. Overexploitation of the Earth’s non-renewable sources of energy has degraded the quality of air to extreme levels, with air in some cities around the world turning toxic to life. The thermal power plants which generate power for d...

Different Types of Electrical Relays and Their Uses

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What are Relays? To begin with, let us first try to understand the term in-depth. They are used as the primary protection as well as switching devices in almost all of the control processes or any other equipment. All the relays that are present respond to one or more electrical quantities such as current or voltage, in a way that they open or close the contacts or circuits. You can also say that it is a switching device, as its basic functionality is to isolate or change the state of any electric circuit from one state to another. If you want to differentiate between them, the first thing that you should keep in mind while doing so is how they function and for what purpose are they being used. You can differentiate them on the basis of – protective, reclosing, regulating, auxiliary ...

Keep your building management systems running with ups battery backup

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These days it is next to impossible to work without electricity. The smallest of things in our life like watches and even earphones now depend on electricity. A world that is unable to perform the basic function of electricity, it is a very scary thought as almost everything depends on electricity. However, almost every year recently, a huge number of the industries are negatively affected, which means that they are in loss due to instantaneous power variations. Due to this, you will lose a significant amount of resources as abrupt and unforeseen power cuts have the power of doing so. Most of the countries that are getting affected by this are the developing ones, as they might not have streamlined systems in place to rectify this issue. What kind of industries are popular in developing co...