India regulator allows Tata Power to raise tariff at Mundra plant

MUMBAI, April 15 Mon Apr 15, 2013 6:00pm IST

Stocks

   

MUMBAI, April 15 (Reuters) - India's central electricity regulator has allowed Tata Power Co Ltd to raise electricity tariffs on a temporary basis at its Mundra power plant on account of rising cost of imported coal, the power utility said on Monday.

The ruling follows a similar order by the regulator earlier this month allowing higher tariffs at Adani Power Ltd's neighbouring power plant in the western state of Gujarat.

India's power sector has struggled with domestic coal shortages and has become increasingly reliant on costlier imports to meet the country's rapidly growing energy needs. (Reporting by Prashant Mehra; Editing by Anand Basu)

Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Republic Day