ICICIdirect.com's report on power space
"Generation increased only 2.7% YoY in January 2015 as severe winter across the country impacted the electricity demand. While generation across the coal segment witnessed a growth, it was partially offset by lower YoY generation across gas, hydro and nuclear segments. Plant load factors (PLFs) declined across all segments. Fall in demand also improved deficit as both base and peak deficits declined MoM and YoY. Accordingly, merchant rates declined significantly in January 2015. While the sector continues to face constraints in terms of 1) fuel availability and pricing, 2) environment clearances and 3) SEB’s financials, the recent initiatives taken by the government like Coal Ordinance 2014, fixing of gas price, fast tracking of project clearances, e-auction of coal etc. may unblock the policy logjam for the sector. Top picks in our coverage universe are NTPC and Power Grid", says ICICIdirect.com research report.
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