India Energy Subsidy Briefing December 2018
As part of its work on energy policy and sustainable development in India, the Global Subsidies Initiative publishes a regular briefing on issues related to energy subsidies.
Below are highlights from the December 2018 edition:
- Draft amendments to the Electricity Act 2003 proposed in September 2018 include provisions to promote renewable energy, improve quality of power supply, impose stronger penalties for violations of Power Purchase Agreements (PPA), and initiate a direct benefit transfer for electricity subsidies to households.
- Government says it is likely to exceed the renewable energy target of 175 GW by 2022 and may increase the target to 225 GW.
- Oil subsidy burden on the rise with volatile crude oil prices; may cost the exchequer up to USD 7.4 billion in financial year 2018–19.
- Supreme Court to hear pleas of owners of stressed power assets directed to declare insolvency by Reserve Bank of India.
For any additional or more detailed information, please do not hesitate to contact Christopher Beaton or Vibhuti Garg.