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Amid struggle to revive economy, Pakistan has announced early closure of markets, wedding halls 

Amid energy crisis, Pakistan cuts short markets and wedding halls timings

As Pakistan continues to face economic crisis, the cabinet on Tuesday announced early closure of markets and wedding halls as part of a raft of measures under the energy conservation plan. 

Asif said that all government buildings and offices would also reduce use of energy under the plan and a policy to work from home would also be completed in up to 10 days.

Cash-strapped Pakistan on Tuesday announced early closure of markets and wedding halls as part of a raft of measures under the energy conservation plan as the government struggled to revive the economy.
Briefing the media after a meeting of the cabinet which approved the National Energy Conservation Plan to save energy and decrease dependence on imported oil, Defence Minister Khawaja Asif said markets would close at 8.30pm while wedding halls would shut doors by 10.00pm respectively, which will "save us Rs 60 billion".
Announcing more measures, he said that manufacturing of incandescent bulbs would be stopped from February 1 while production of inefficient fans would be stopped from July. He said these measures would help to save another Rs22 billion.
The government would also make the use of conical geysers mandatory within a year, which by using less gas would save Rs 92 billion, and alternative use of street lights would save another Rs 4 billion.
Asif said that all government buildings and offices would also reduce use of energy under the plan and a policy to work from home would also be completed in up to 10 days.
"No lights were on in the cabinet meeting today. The meeting was held in full sunlight," he said, providing an example for the country to follow.
Asif also said that the cabinet planned to conserve 30 per cent of the electricity used by government departments, which would save Rs62 billion.
Also Watch: <a href="https://www.editorji.com/world-news/beijing-lashes-out-at-restrictions-on-arrivals-from-china-1672742315378">China lashes out at nations for imposing restrictions on arrivals from its country</a>

Ukraine President Zelensky seeks 800 million euros in urgent energy sector aid

Zelensky said that Ukraine needed transformers, equipment to repair damaged high-voltage power lines, as well as generators and gas turbines.

Zelensky said that Ukraine needed transformers, equipment to repair damaged high-voltage power lines, as well as generators and gas turbines

Ukrainian President Volodymyr Zelensky told an international aid conference on Tuesday that Ukraine needed emergency aid for its energy sector totalling around 800 million euros.
"Of course it is a very high amount, but the cost is less than the cost of a potential blackout," Zelensky told the gathering in Paris via video link. "I hope that decisions will be made accordingly."
Zelensky said that Ukraine needed transformers, equipment to repair damaged high-voltage power lines, as well as generators and gas turbines.
Also watch: <a href="https://www.editorji.com/world-news/us-to-send-275-million-in-military-aid-to-ukraine-1670556660806">US to send $275 million in military aid to Ukraine</a>
"Because of the destruction of our power plants by terror attacks we will need to use more gas this winter than expected," he added.
This would require the import of two billion cubic metres of gas over the winter as well as major electricity imports from EU neighbours, he added.
Ukraine has been linked up to the common European power network since June after ending its connection to the Russian and Belarus grids.
"Generators have become as necessary as armoured vehicles and bullet-proof jackets," Zelensky added.
Ukrainian Prime Minister Denys Shmyhal also appealed for help from the 70 states and international agencies gathered in Paris for the "Standing with the Ukrainian People" conference.
"We are buying and looking for energy equipment all over the world and we ask the international community to help Ukraine," he said.
"They (Russians) want to put us into darkness and it will fail, thanks to our partners all over the world," he added.
Moscow has switched tactics since October when it began airstrikes targeting Ukraine's energy network, plunging millions into cold and darkness at the onset of winter.

WHO in its statement termed the winter this year in war ravaged Ukraine as life-threatening for millions for people in the country. With brutal winter approaching, what's next for the nine-month long Russia-Ukraine war?  

This winter will be about survival in Ukraine says WHO

WHO in its statement termed the winter this year in war ravaged Ukraine as life-threatening for millions for people in the country. With brutal winter approaching, what's next for the nine-month long Russia-Ukraine war?&nbsp;&nbsp;

Ukraine is evacuating civilians from recently liberated sections fearing that a lack of heat, power and water will make conditions too unliveable this winter.
This after the World Health Organisation delivered a chilling warning about the energy crisis and its impact on humans in the war-torn country.
Russia has been targeting Ukraine's power infrastructure from the air for weeks causing widespread blackouts and depriving millions of Ukrainians of essential energy requirements.
Warning that cold weather can kill, the WHO said while 10 million Ukrainians remain without power, many face life-threatening health conditions as temperatures fall to as low as -20 degrees.
It estimates that another two to three million people will be displaced from their homes to find warmth and safety over winter.
With more than 50% of the country's energy facilities damaged by Russian missile strikes, Ukrainians are most likely to live with blackouts at least until the end of March
But the war has continued despite the deteriorating weather conditions, with Ukrainian forces pressing against Russian positions and Moscow keeping up shelling and missile strikes
However, the approaching harsh winter will bring new logistical difficulties for troops and equipment on both sides
The wet-cold conditions due to snow, rain and muddy grounds makes fighting and moving essential items like food and ammunition difficult.&nbsp;
Trying to maintain vehicles, cleaning wet rifles, and even standing guard with frozen hands in damp clothing becomes challenging
While the bad weather is likely to slowdown military advances on both sides, experts believe that the fighting won&rsquo;t pause
Reportedly, over 16,000 civilians have been killed and 7.7 million internally displaced in Ukraine since February&nbsp;
US estimates over 200,000 military casualties on all sides in Ukraine war

Amid energy crisis, Ukraine evacuates civilians from liberated areas for winter

Ukraine Deputy PM said residents of the two regions, which have been regularly shelled in the past months by Russian forces, have been advised to move to safer areas.

Ukraine Deputy PM said residents of the two regions, which have been regularly shelled in the past months by Russian forces, have been advised to move to safer areas.

Ukrainian authorities have started evacuating civilians from the recently-liberated areas of the Kherson region and the neighbouring province of Mykolaiv, fearing that damage to the infrastructure is too severe for people to endure the upcoming winter, officials said on Monday.
Residents of the two southern regions, regularly shelled in the past months by Russian forces, have been advised to move to safer areas in the central and and western parts of the country, said Ukraine's Deputy Prime Minister Iryna Vereshchuk.
The government will provide &ldquo;transportation, accommodation, medical care," she said.
The evacuations come just over a week after Ukraine retook the city of Kherson and areas around it. The liberation of the area marked a major battlefield gain, while the evacuations now highlight the difficulties the country is facing following heavy Russian shelling of its power infrastructure as winter weather sets in.
Russia has been pounding Ukraine's power grid and other infrastructure from the air, causing widespread blackouts and leaving millions of Ukrainians without heat, power or water as frigid cold and snow blankets the capital, Kyiv, and other cities.
In 15 Ukrainian regions, four-hour or longer power outages were expected Monday, according to Volodymyr Kudrytsky, the head of Ukraine's state grid operator, Ukrenergo.
More than 40 per cent of the country's energy facilities were damaged by Russian missile strikes in recent weeks.
On Sunday, powerful explosions from shelling shook Ukraine's Zaporizhzhia region, the site of Europe's largest nuclear power plant. The IAEA, the global nuclear watchdog, called for &ldquo;urgent measures to help prevent a nuclear accident&rdquo; in the Russian-occupied facility.
Kyiv and Moscow blamed each other for the shelling that came after weeks of relative calm in the area that has been the site of fighting between Russian and Ukrainian forces since Russia invaded on February 24.
The fighting has raised the spectre of a nuclear catastrophe ever since Russian troops occupied the plant &mdash; Europe's largest &mdash; during the early days of the war.
In fighting elsewhere, at least four civilians were killed and eight more were wounded in Ukraine over the past 24 hours, deputy head of the country's presidential office Kyrylo Tymoshenko said Monday.
A Russian missile strike in the northeast Kharkiv region on Sunday night killed one person and left two more wounded, according to Kharkiv Gov. Oleh Syniehubov. The strike hit a residential building in the Shevchenkove village, Syniehubov said, killing a 38-year-old woman.
One person was wounded overnight in the Dnipropetrovsk region, where Russian forces shelled the city of Nikopol and areas around it, Gov. Valentyn Reznichenko said.
In the eastern Donetsk region, which is partially controlled by Moscow, Russian forces shelled 14 towns and villages, the region's Ukrainian Governor Pavlo Kyrylenko said.
Heavy fighting was ongoing in the region near the city Bakhmut, where a school was damaged by shelling. In Makiivka, which is under Russian control, an oil depot was hit with &ldquo;an explosive object&rdquo; and caught fire, local Moscow-installed authorities said.
In the neighbouring Luhansk region, most of which is under Russian control, the Ukrainian army is advancing towards the key cities of Kreminna and Svatove, where the Russians have set up a line of defence, according to Luhansk's Ukrainian Governor Serhiy Haidai.
&ldquo;There are successes and the Ukrainian army is moving very slowly, but it will be much more difficult for Russians to defend themselves after Svatove and Kreminna (are retaken)," Haidai told Ukrainian television.
Also watch: <a href="https://www.editorji.com/world-news/russia-launched-100-missiles-in-several-cities-ukraine-1668561969113">Russia launched 100 missiles in several cities: Ukraine</a>

Japan -- which is aiming to become carbon neutral by 2050 -- has faced a squeeze on its energy supply since Russia's February invasion of Ukraine

Tokyo residents asked to wear turtlenecks: here's why

Japan -- which is aiming to become carbon neutral by 2050 -- has faced a squeeze on its energy supply since Russia's February invasion of Ukraine

Trying to stay warm while cutting energy bills this winter? Wear a turtleneck, says the governor of Tokyo.
The governor, wearing one herself under a jacket, encouraged residents to wear turtleneck jumpers both to stay warm and as a way of reducing energy consumption.
"Warming the neck has a thermal effect. I'm wearing a turtleneck myself and wearing a scarf also keeps you warm. This will save electricity," Tokyo governor Yuriko Koike further said.
Like many countries, Japan -- which is aiming to become carbon neutral by 2050 -- has faced a squeeze on its energy supply since Russia's February invasion of Ukraine.

The European Union's next steps for addressing the continent's worsening energy crisis following Russia's invasion of Ukraine are expected to be unveiled next week following an extraordinary meeting of the European Union's energy ministers.

New sanctions on Russia in the waiting? European Union to unveil new 'solutions' to energy crisis

The European Union's next steps for addressing the continent's worsening energy crisis following Russia's invasion of Ukraine are expected to be unveiled next week following an extraordinary meeting of the European Union's energy ministers which will be held in Brussels on Friday. 

<div class="author-container hidden-xs">A decoupling of gas and energy prices, increase in liquidity for the market, and coordinated demand reduction could be part of the solutions.</div>

The European Union's next steps for addressing the continent's worsening energy crisis following Russia's invasion of Ukraine are expected to be unveiled next week, the European commissioner for energy said on September 6.&nbsp;
Many European countries have tightened their belts as energy costs soar.&nbsp;
Russia's state-run energy company has continued its shutdown of a pipeline carrying natural gas to Europe, in what German officials see as a political power play, and the European Commission president says the EU's electricity market &ldquo;is no longer operating&rdquo; amid knock-on effects from the Ukraine war.&nbsp;
An extraordinary meeting of the European Union's energy ministers will be held in Brussels on Friday to discuss a bloc-wide package of solutions to the power market cost spikes, European Commissioner for Energy Kadri Simson told AP in an interview.&nbsp;
She said the European Commission expects the package will be adopted next Tuesday, and that a decoupling of gas and energy prices, increase in liquidity for the market and coordinated demand reduction could be expected in it.&nbsp;
That could include a temporary capping of the price of gas used to produce electricity, modification of trading rules on energy exchanges and coordinated demand reduction measures like those seen over the summer.&nbsp;
&ldquo;We know that there are peak hours where our households and enterprises are witnessing extreme high hourly prices,&rdquo; she said in the interview at the European Delegation office in Jakarta.&nbsp;
&ldquo;Part of this proposal is also dealing with peak hours and how it will cut demand at these specific timeslots.&rdquo;&nbsp;
European nations have worked to get creative about energy alternatives. One short-term fix is roughly 20 floating terminals that would receive liquefied natural gas from other countries and convert it into natural gas for homes and businesses.&nbsp;
The plan, with the first floating terminals set to start delivering gas by year's end, has raised alarm among experts who fear the long-term consequences for the environment.&nbsp;
They warn that the terminals would perpetuate Europe's reliance on natural gas, which releases climate-warming methane and carbon dioxide when it's produced, transported and burned.&nbsp;
&ldquo;Right now, in this situation where Russia is using their natural gas supplies as a weapon, we have to take care to secure the supply.&nbsp;
And that means that some extraordinary investments are needed,&rdquo; Ms. Simson said when asked about the environmental concerns.&nbsp;
Ms. Simson also acknowledged that the global rising cost of gas has pushed some countries to resort to cheaper but more environmentally destructive energy sources.&nbsp;
&ldquo;We are taking responsibility,&rdquo; she said.&nbsp;
&ldquo;The biggest step that we are making to not impact the global gas and LNG market is agreeing that we will cut our gas consumption.&rdquo;&nbsp;
The European Union has a binding commitment to cut greenhouse gas emissions by at least 55% by 2030 and to reach net zero greenhouse gas emissions by 2050.&nbsp; Natural gas has been promoted as a &ldquo;bridge fuel&rdquo; because in power plants it produces less carbon dioxide when burned than coal. But some experts are critical of the move.&nbsp;
&ldquo;For this winter we have made &mdash; and several national governments have made &mdash; a set of commitments to reduce energy consumption,&rdquo; Ms. Simson said. &ldquo;We will not achieve our climate targets unless we will prioritise energy savings.&rdquo; Ms. Simson also said that the current energy crisis in Europe has made it clearer that renewable energy such as solar and wind are essential for energy in the future.&nbsp;
&ldquo;Renewables do not only matter on the climate side, but they also allow us to take the responsibility for our consumption into our own hands,&rdquo; she said.&nbsp; Ms. Simson came to Indonesia to attend a meeting of the Group of 20 leading rich and developing countries in Bali.&nbsp;
ALSO WATCH: <a href="https://www.editorji.com/world-news/explained-impact-of-russia-china-new-currency-deal-for-buying-moscow-gas-1662529200506">Explained: impact of Russia-China new currency deal for buying Moscow gas</a>

As Sri Lanka suffers its worst financial crisis in decades, leaving millions struggling to buy food, medicine and fuel, people are returning to cooking with firewood. 
Suppliers of cooking gas have been increasing the proportion of propane, looking to cut costs, which has led to over a thousand kitchens exploding across the country, killing at least seven people and injuring hundreds others. 
But now, along with much else in the country of 22 million people, gas is either unavailable or too expensive for most. 
Sri Lanka is in the midst of its worst financial crisis in seven decades, after its economic mismanagement and the crucial tourism industry hammered by Covid-19. The nation has run out of dollars needed to pay for most imports. 

Sri Lankans return to cooking with firewood as crisis deepens 

Gas is either unavailable or too expensive for most

As Sri Lanka suffers its worst financial crisis in decades, millions are left struggling to buy food, medicine and fuel, people are returning to cooking with firewood.&nbsp;
Suppliers of cooking gas have been increasing the proportion of propane, looking to cut costs, which has led to over a thousand kitchens exploding across the country, killing at least seven people and injuring hundreds others.&nbsp;
But now, along with much else in the country of 22 million people, gas is either unavailable or too expensive for most.&nbsp;
Also read/watch| <a title="This country moves to make work-from-home a legal right" href="https://www.editorji.com/business-news/this-country-moves-to-make-work-from-home-a-legal-right-1657090524088">This country moves to make work-from-home a legal right</a>
Some tried to shift to kerosene oil cookers, but the government did not have dollars to import it along with petrol and diesel, which are also in short supply.
And those who bought electric cookers were in for a rude shock when the government imposed lengthy power blackouts as it ran out of dollars to import fuel for generators.
Sri Lanka is in the midst of its worst financial crisis in seven decades, after its economic mismanagement and the crucial tourism industry hammered by Covid-19. The nation has run out of dollars needed to pay for most imports.&nbsp;

Power Crisis: From the national capital to the financial capital, residents are facing potential load shedding as power plants start to shut due to the lack of coal.

Maharashtra Power Crisis: 13 coal run power plants shut down in Maharashtra 

13 power plants in Maharshtra, 8 power plants in Uttar Pradesh, 3 power plants in Punjab. All shut due to lack of coal . 

Power Crisis, Maharashtra load shedding start

Maharashtra&nbsp;Power Crisis:&nbsp; 13 units of state-owned and private power generation thermal plants have stalled, leading to a shortfall of 3,330MW

Power Crisis:&nbsp;From the national capital to the financial capital, residents are facing potential load shedding as power plants start to shut due to the lack of coal.&nbsp;Maharashtra State Electricity Regulatory Commission&nbsp;alerted consumers that supply during peak hours is critical as over a dozen power plants have been shut due to lack of supply.&nbsp;The state has appealed to consumers to use electricity judiciously, during peak hours (from 6am to 10am and 6pm to 10pm). Read/Watch Also: <a href="Read/Watch%20Also: Power Crisis In Delhi">Power Crisis In Delhi</a> In a circular, the energy department said, "Due to <a href="https://www.editorji.com/business-news/economy/coal-shortage-supply-concerns-will-be-eased-this-week-assures-coal-minister-1633918018889" target="_blank">shortage of coal</a>, 13 sets of various thermal <a href="https://www.editorji.com/world-news/lebanon-beirut-in-the-dark-as-power-plants-run-out-of-fuel-1633844759390" target="_blank">power plants</a> supplying power to MSEDCL have been shut down at present. As a result, 3330 MW power supply has been cut off. Efforts are being made to provide power supply from hydropower and other sources, including emergency procurement, to fill the power gap.&rdquo; The energy department for the state alerted that to fill the gap the companies are buying power from the open market a rate of Rs 13.60 per unit which is much higher than the Rs 5-6/unit paid on a regular basis.&nbsp;

Union minister for power RK Singh on Sunday said that the fears about coal shortage leading to blackouts are unfounded
A panic created about coal shortage is due to miscommunication from GAIL and Tata, the minister said amid huge concern about power supply in more than six states, including national capital Delhi.
The panic, Singh said, was "unnecessarily created" after officials from GAIL sent a message to distributors on the supply to be affected.
Singh warned GAIL and Tata Power against &lsquo;acts of irresponsible behaviour&rsquo; that created panic and added that the country has reserves for another 4-5 days
He assured &lsquo;under no circumstances the gas supply will come down&rsquo;. He further added that &lsquo;the supply of domestic or imported coal will continue irrespective of the charges and &lsquo;Delhi will continue to get supply and there will be no load shedding&rsquo;.
Several states including Gujarat, Punjab, Rajasthan, Delhi and Tamil Nadu have flagged shortage of coal at power plants. &nbsp;Meanwhile, Punjab has already imposed rotational load shedding at several places.
Delhi Chief Minister Arvind Kejriwal has also written to Prime Minister Narendra Modi, warning that the national capital "could face a blackout" in the next two days if supplies did not improve.

Panic over blackouts 'unnecessary': Power Minister on outage fears

Union minister for power RK Singh on Sunday said that the fears about coal shortage leading to blackouts are 'baseless'

//Power ministry RK Singh&nbsp;said blackouts fears 'unnecessary, baseless
//Singh:&nbsp;miscommunication from GAIL and Tata&nbsp;led to the unfounded panic
//Singh's&nbsp;statement&nbsp;amid huge concern about power supply in more than 6 states
//Singh warned GAIL &amp; Tata Power against &lsquo;acts of irresponsible behaviour&rsquo;
//Singh assured &lsquo;under no circumstances the gas supply will come down&rsquo;
//Gujarat, Punjab, Rajasthan, Delhi, TN flagged shortage of coal&nbsp;
//Delhi CM wrote to PM warning capital 'could face a blackout'

Union Minister for Power&nbsp;warned GAIL and Tata Power against &lsquo;acts of irresponsible behaviour&rsquo; that created panic and added that the country has reserves for another 4-5 days

Union minister for power RK Singh on Sunday said that the fears about coal shortage leading to blackouts are unfounded
A panic created about coal shortage is due to miscommunication from GAIL and Tata, the minister said amid huge concern about power supply in more than six states, including national capital Delhi.
The panic, Singh said, was "unnecessarily created" after officials from GAIL sent a message to distributors on the supply to be affected.
Singh warned GAIL and Tata Power against &lsquo;acts of irresponsible behaviour&rsquo; that created panic and added that the country has reserves for another 4-5 days
He assured &lsquo;under no circumstances the gas supply will come down&rsquo;. He further added that &lsquo;the supply of domestic or imported coal will continue irrespective of the charges and &lsquo;Delhi will continue to get supply and there will be no load shedding&rsquo;.
Several states including Gujarat, Punjab, Rajasthan, Delhi and Tamil Nadu have flagged shortage of coal at power plants. &nbsp;Meanwhile, Punjab has already imposed rotational load shedding at several places.
Delhi Chief Minister Arvind Kejriwal has also written to Prime Minister Narendra Modi, warning that the national capital "could face a blackout" in the next two days if supplies did not improve.

Power plants across the country are running out of coal. India's power minister in an interview tells Indian Express it is a&nbsp;&ldquo;touch and go&rdquo; affair and that he is bracing for a trying &ldquo;next five-six months&rdquo; as India faces a power crisis.&nbsp;Here are the numbers that worryAs per data 16 of India's 135 coal-fired power plants had zero coal stocks, according to the Central Electricity Authority (CEA). Over half of the plants had stocks that would last fewer than three days, while over 80% had less than a week's stock left.How did we get here&nbsp;As the country's economic activity picked up with the declining rate of coronavirus infections, industrial demand for electricity mushroomed. Power consumption in August and September exceeded the volumes from the same months in the pre-pandemic year of 2019. But&nbsp;heavy September rain affected coal production and distribution in mining areas. India has the fourth largest reserves of coal in the world.&nbsp;So what is happening to supplyTo meet the rising demand, Coal India, which accounts for over 80 per cent of India's coal, supplied about 243 million tonnes of coal to power companies from April 1 to September 28, according to a report in Reuters. This is 24 per cent higher than the same period last year and 11 per cent more than April-September 2019.Can't we just import more coal?The import option will come at a a great financial cost. Coal from Indonesia, one of India&rsquo;s major suppliers, rose from $60/tonne in March to $200/tonne in September.&nbsp;European coal has risen to a 13-year high, and Australian Newcastle coal has surged by 250 per cent from last September near record high.

Only 3 days of coal left!  Big crisis looms for power plant as they run out of coal

EJ Explains: India's big coal shortage and why you should brace for big power cuts as the Power Minister says the situation is 'touch and go'

EJ Explains| How India's coal crisis could mean 'lights out' for you and the economy

More than half of India's 135 coal plants will run out of fuel as coal shortage escalates as per reports.&nbsp;

Power plants across the country are running out of coal. India's power minister in an interview tells Indian Express it is a&nbsp;&ldquo;touch and go&rdquo; affair and that he is bracing for a trying &ldquo;next five-six months&rdquo; as India faces a power crisis.&nbsp; Here are the numbers that worry As per data 16 of India's 135 coal-fired power plants had zero coal stocks, according to the Central Electricity Authority (CEA). Over half of the plants had stocks that would last fewer than three days, while over 80% had less than a week's stock left. How did we get here&nbsp; As the country's economic activity picked up with the declining rate of coronavirus infections, industrial demand for electricity mushroomed. Power consumption in August and September exceeded the volumes from the same months in the pre-pandemic year of 2019. But&nbsp;heavy September rain affected coal production and distribution in mining areas. India has the fourth largest reserves of coal in the world.&nbsp; So what is happening to supply To meet the rising demand, Coal India, which accounts for over 80 per cent of India's coal, supplied about 243 million tonnes of coal to power companies from April 1 to September 28, according to a report in Reuters. This is 24 per cent higher than the same period last year and 11 per cent more than April-September 2019. Can't we just import more coal? The import option will come at a a great financial cost. Coal from Indonesia, one of India&rsquo;s major suppliers, rose from $60/tonne in March to $200/tonne in September.&nbsp;European coal has risen to a 13-year high, and Australian Newcastle coal has surged by 250 per cent from last September near record high.

The government on Thursday hiked by 62 per cent the price of natural gas that is used to produce electricity, make fertilisers and turned into CNG to use as fuel in automobiles and cooking gas for household kitchens.
This is the first increase in rates since April 2019 and comes on back of firming benchmark international prices but does not reflect the spurt in spot or current price of liquefied natural gas (LNG) witnessed during the last couple of weeks.
The oil ministry's Petroleum Planning and Analysis Cell (PPAC) said the rates paid for gas produced from fields given to state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) will be USD 2.90 per million British thermal unit for the six-month period beginning April 1.
Simultaneously, the price for gas produced from difficult fields such as deepsea, which is based on a different formula, was hiked to USD 6.13 per mmBtu from the current USD 3.62 per mmBtu.
This is the maximum price that Reliance Industries Ltd and its partner BP plc are entitled to for the gas they produce from deepsea blocks such as KG-D6.
The increase in gas price is likely to result in a 10-11 per cent rise in CNG and piped cooking gas rates in cities such as Delhi and Mumbai, industry sources said.
It will also lead a rise in cost of generating electricity but consumers may not feel any major pinch as the share of power produced from gas is very low.
Similarly, the cost of producing fertiliser will also go up but as the government subsidises the crop nutrient, an increase in rates is unlikely.
 

Govt hikes gas price by 62%; Expect sharp rise in CNG & piped gas prices next

Global Energy Crisis: Govt hikes gas price by 62%; Expect sharp rise in CNG & piped gas prices next

Price Hike Alert| Your CNG & pipe gas price likely to be revised higher

The increase in gas price is likely to result in a 10-11 per cent rise in CNG and piped cooking gas rates

The government has hiked the price of natural gas that is used to produce electricity, make fertilisers by 62%. Natural gas is also&nbsp;turned into CNG to use as fuel in automobiles and cooking gas for household kitchens.
This is the first increase in rates since April 2019 and comes on back of firming benchmark international prices but does not reflect the spurt in spot or current price of liquefied natural gas (LNG) witnessed during the last couple of weeks.
The increase in gas price is likely to result in a 10-11 per cent rise in CNG and piped cooking gas rates in cities such as Delhi and Mumbai, industry sources said.
It will also lead a rise in cost of generating electricity but consumers may not feel any major pinch as the share of power produced from gas is very low.
Similarly, the cost of producing fertiliser will also go up but as the government subsidises the crop nutrient, an increase in rates is unlikely.
The oil ministry's Petroleum Planning and Analysis Cell (PPAC) said the rates paid for gas produced from fields given to state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) will be USD 2.90 per million British thermal unit for the six-month period beginning April 1.
Simultaneously, the price for gas produced from difficult fields such as deepsea, which is based on a different formula, was hiked to USD 6.13 per mmBtu from the current USD 3.62 per mmBtu.
This is the maximum price that Reliance Industries Ltd and its partner BP plc are entitled to for the gas they produce from deepsea blocks such as KG-D6.

China is facing an acute coal shortage leading to spiralling prices of energy fuels across the globe as the world's second biggest economy grapples with a power shortage. Here is all you need to know about China's energy crisis and it's global impact-:

Coal-based producers account for more than 70% of the China's electricity generation&nbsp;
China's push to reduce greenhouse gas emissions and go &ldquo;carbon neutral&rdquo; by 2060 has capped the growth of coal mining.
Demand pick up begins as covid&nbsp;recedes, imports have risen more than 20% since the start of June
Inventories at six major Chinese power groups are down 31% and the lowest since 2017
European coal prices have risen to a 13-year high, and Australian Newcastle coal has surged by 250% from last September
Higher coal prices leading to rising cost of metals across the board as it is an input material for all factoring&nbsp;


EJ Explains| China's great energy crisis, all you need to know

EJ Explains| Why China's bet to turn green is leading to a massive energy crisis and a coal shortage

Coal-based producers account for more than 70% of the country&rsquo;s electricity generation.

China is facing an acute coal shortage leading to spiralling prices of energy fuels across the globe as the world's second biggest economy grapples with a power shortage. Here is all you need to know about China's energy crisis and it's global impact-:
<ul>
<li>Coal-based producers account for more than 70% of the China's electricity generation&nbsp;</li>
<li>China's push to reduce greenhouse gas emissions and go &ldquo;carbon neutral&rdquo; by 2060 has capped the growth of coal mining.</li>
<li>Demand pick up begins as covid&nbsp;recedes, imports have risen more than 20% since the start of June</li>
<li>Inventories at six major Chinese power groups are down 31% and the lowest since 2017</li>
<li>European coal prices have risen to a 13-year high, and Australian Newcastle coal has surged by 250% from last September</li>
<li>Higher coal prices leading to rising cost of metals across the board as it is an input material for all factories</li>
<li>Nickel prices are at 14 year high, Aluminium as well is touching record high levels.&nbsp;</li>
</ul>

energy crisis

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