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Beyond crisis : the financial performance of India's power sector /
In September 2012, the Government of India approved a financial rescue scheme to revive the power generation sector. This bailout came in response to banks and financial institutions with large nonperforming loans to the power sector. This is the second bailout of the sector in a decade. The first w...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, DC :
World Bank Group,
©2015.
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| Colección: | World Bank studies.
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| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Khurana, Mani. | |
| 245 | 1 | 0 | |a Beyond crisis : |b the financial performance of India's power sector / |c Mani Khurana and Sudeshna Ghosh Banerjee. |
| 260 | |a Washington, DC : |b World Bank Group, |c ©2015. | ||
| 300 | |a 1 online resource (xvi, 131 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 490 | 1 | |a A World Bank study | |
| 588 | 0 | |a Print version record. | |
| 500 | |a "A World Bank study." | ||
| 504 | |a Includes bibliographical references. | ||
| 520 | |a In September 2012, the Government of India approved a financial rescue scheme to revive the power generation sector. This bailout came in response to banks and financial institutions with large nonperforming loans to the power sector. This is the second bailout of the sector in a decade. The first was in 2002 when the government had to convert the outstanding arrears of state electricity boards to central public sector undertakings. The 2002 bailout came to Rs 400 billion in state government bonds to restore the sector to financial solvency. The recent crisis and consequent bailout is more complicated than the 2002 bailout. Power sector developments in the past two decades have brought new players into a traditionally government-dominated sector, and they have also been implicated in the crisis. India has adopted transformative policy changes since the last bailout. A landmark Electricity Act was passed in 2003, superseding all previous legislation. The strategic intent of the act was to promote competition by opening all possible avenues for the procurement and sale of electric power. Subsidiary policies and enabling legislation have advanced this process. Competitive markets have evolved and attracted new investments, largely from the private sector. The institutional structure of the traditionally public sector-dominated industry has also been transformed. Aside from the entry of new private sector participants, primarily in generation, the state electricity boards (SEBs) were unbundled into generation, transmission, distribution, and, in a few cases, trading segments. State electricity regulatory commissions (SERCs) were also established in all the states. Over the next two decades, India faces immense challenges if it is to sustain the 8 to 10 percent growth rate required to end poverty and achieve human development goals. According to the Planning Commission, India needs to triple or quadruple its primary energy supply and increase its installed electricity capacity by at least five or six times its 2004 levels to meet demand in 2032. To accomplish these ambitious goals, India will need a commercially viable power sector. This report presents a diagnostic of the financial and operational performance of segments in the power sector value chain between adoption of the Electricity Act, 2003, and 2011, including the factors that contributed to the recent crisis. The report focuses on efficiency and productivity, whether performance has improved over time, and which states have emerged as performance leaders. Analysis of this kind is not new or unique, but this report aims to integrate historical performance, the current situation, and future projections of the impact of worsening sector finances, and the actions that need to be taken to check the downturn. | ||
| 588 | 0 | |a Online resource; title from PDF title page (EBSCO, viewed December 10, 2014). | |
| 505 | 0 | |a Front Cover; Contents; Preface; Acknowledgments; Abbreviations; Executive Summary; Sector Finances Have Reached Crisis Proportions; Figures; Figure ES. 1 Profit (Loss) after Tax, 2003-11; Some States Have Performed Worse Than Others; Figure ES. 2 Accumulated Losses, by State, 2003-11; Banks and Other Financial Institutions Have Increased Their Support; Figure ES. 3 Power Sector Debt; Costs Have Been Driven Primarily by Power Procurement, Underpinned by Fuel Crisis; Figure ES. 4 Power Purchase Efficiency Scores; The Gap between Costs and Revenues Has Increased. | |
| 505 | 8 | |a Figure ES. 5 Cost Recovery Performance, 2003-11The Financial Situation of the Power Sector Reflects a Complex Interplay between Utilities and Key Stakeholders; Figure ES. 6 Decomposition of Losses, 2003 and 2011; Efficiency Improvements in Upstream Generation Can Bring about Significant Savings; Financial Projections Suggest a Continued Slide until 2017; Figure ES. 7 Projected Change in Gap without Subsidy, 2011 and 2017; A Proposed Simple Tool to Monitor Sector Performance on a Regular Basis; Figure ES. 8 Best and Worst Performing States in the AHP Index. | |
| 505 | 8 | |a A Few Areas of Continued Focus Can Go a Long Way to Improve Sector PerformanceNotes; Chapter 1The Genesis of India's Power Sector Reforms; The Reforms and Their Origins; Events Leading up to the Electricity Act, 2003; Figure 1.1 Peak and Energy Deficit; Figure 1.2 Timeline of Sector Unbundling and Establishment of Regulatory Commissions; Tables; Table 1.1 Comparative Assessment of Technical and Operational Indicators; Boxes; Box 1.1 The Electricity Act, 2003, and Subsequent Policies; Figure 1.3 Accumulated Losses, by State, 2003; Figure 1.4 Power Sector Structure, by State. | |
| 505 | 8 | |a Accelerated Power Development and Reforms ProgramNotes; References; Chapter 2Deteriorating Sector Finances; A Snapshot of Sector Finances; Figure 2.1 Profit (Loss) after Tax, 2003-11; Figure 2.2 Profit (Loss) after Tax, by State, 2011; Figure 2.3 Accumulated Losses, by State, 2003-11; Table 2.1 Accumulated Losses across the Power Sector Value Chain, 2011; Figure 2.4 Evolution of Subsidies, 2003-11; Figure 2.5 Debt in the Power Sector; Cost and Revenue in the Distribution Segment; Figure 2.6 Analysis of Average Cost, 2011, and Compound Annual Growth Rate, 2003-11. | |
| 505 | 8 | |a Figure 2.7 Composition of Total Costs, 2003-11Figure 2.8 Power Purchase Efficiency Scores; Figure 2.9 Energy Deficit Caused by Coal Shortages, 2012; Figure 2.10 Revenues in 2011 and Compound Annual Growth Rate; The Gap between Cost and Revenue; Figure 2.11 Cost Recovery Performance, 2003-11; Figure 2.12 Cost Recovery Performance with and without Subsidy; Figure 2.13 Evolution of the Cost-Revenue Gap; Figure 2.14 Decomposition of Losses in 2003 and 2011; Figure 2.15 Average Effective Tariff, by Consumer Group, 2012; Table 2.2 Tariff Performance and Utility Losses, 2011. | |
| 546 | |a English. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Energy industries |z India |x Finance. | |
| 650 | 0 | |a Energy policy |z India. | |
| 650 | 6 | |a Industries énergétiques |z Inde |x Finances. | |
| 650 | 6 | |a Politique énergétique |z Inde. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Real Estate |x General. |2 bisacsh | |
| 650 | 7 | |a Energy industries |x Finance |2 fast | |
| 650 | 7 | |a Energy policy |2 fast | |
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| 700 | 1 | |a Banerjee, Sudeshna Ghosh, |d 1973- | |
| 710 | 2 | |a World Bank Group, |e issuing body. | |
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| 776 | 0 | 8 | |i Print version: |a Khurana, Mani. |t Beyond Crisis : The Financial Performance of India's Power Sector. |d Washington : World Bank Publications, ©2014 |z 9781464803925 |
| 830 | 0 | |a World Bank studies. | |
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