Publication:
Beyond Crisis : The Financial Performance of India's Power Sector

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dc.contributor.authorKhurana, Mani
dc.contributor.authorBanerjee, Sudeshna Ghosh
dc.date.accessioned2014-11-12T23:12:54Z
dc.date.available2014-11-12T23:12:54Z
dc.date.issued2015
dc.description.abstractAt the end of 2011, the Indian power sector found itself in financial crisis, just a decade after the 2001 bailout of state electricity boards (SEBs) by the central government. Bankrupt state power distribution utilities in several states were unable to pay their bills or repay their debts. Despite the passage of the landmark 2003 Electricity Act and implementation of a broad set of reforms over the past decade, the sector today is looking at another rescue from the center, four times larger than before. This financial rescue scheme amounts to about Rs 1.9 trillion ($42 billion) and was instigated by the nonperforming assets of the banks and other financial institutions. The Electricity Act was envisaged to create independent companies functioning on commercial principles, but they are still far away from that goal. 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 analysis of 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, future projections of the impact of worsening sector finances, and the actions that need to be taken to check the downturn. The report draws primarily from utility data collected by the Power Finance Corporation in successive years on utilities operational and financial performance. The Power Finance Corporation data were collated into a single database with the addition of various operational parameters at the plant level and the utility level from the Central Electricity Authority.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/11/20364772/beyond-crisis-financial-performance-indias-power-sector
dc.identifier.doi10.1596/978-1-4648-0392-5
dc.identifier.isbn978-1-4648-0392-5
dc.identifier.urihttps://hdl.handle.net/10986/20527
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesWorld Bank Study;
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO ELECTRICITY
dc.subjectACCOUNTING
dc.subjectADVERSE IMPACTS
dc.subjectAFFORDABLE PRICES
dc.subjectAGRICULTURE
dc.subjectAMOUNT OF POWER
dc.subjectAPPROACH
dc.subjectARREARS
dc.subjectAVAILABILITY
dc.subjectBAILOUT
dc.subjectBALANCE
dc.subjectBALANCE SHEET
dc.subjectBENCHMARK
dc.subjectBENCHMARKING
dc.subjectBIDS
dc.subjectBILATERAL TRANSACTIONS
dc.subjectBUSINESS MODELS
dc.subjectCAPABILITIES
dc.subjectCAPACITY PLANNING
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL EXPENDITURES
dc.subjectCASH FLOWS
dc.subjectCOAL
dc.subjectCOAL CONSUMPTION
dc.subjectCOAL PRODUCTION
dc.subjectCOLLECTION EFFICIENCY
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPETITIVE BIDDING
dc.subjectCOMPETITIVE MARKETS
dc.subjectCOMPETITIVE POWER MARKETS
dc.subjectCOMPETITIVE PRICES
dc.subjectCOMPETITIVE PROCUREMENT
dc.subjectCOMPOSITION OF DEBT
dc.subjectCONSUMERS
dc.subjectCOPYRIGHT
dc.subjectCOST ASSUMPTIONS
dc.subjectCOST OF POWER
dc.subjectCOST RECOVERY
dc.subjectCREDITORS
dc.subjectCUSTOMER RELATIONS
dc.subjectCUSTOMER SATISFACTION
dc.subjectCUSTOMER SERVICE
dc.subjectDEBT
dc.subjectDEBTOR
dc.subjectDEBTS
dc.subjectDEFICITS
dc.subjectDEMAND FOR ELECTRICITY
dc.subjectDEMAND FOR ENERGY
dc.subjectDEMAND FOR POWER
dc.subjectDEVELOPMENT FINANCE
dc.subjectDISTRIBUTION COMPANIES
dc.subjectDISTRIBUTION LOSSES
dc.subjectDISTRIBUTION OF ELECTRICITY
dc.subjectDISTRIBUTION OPERATIONS
dc.subjectDOMAIN
dc.subjectDOMESTIC COAL
dc.subjectE-MAIL
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIES OF SCALE
dc.subjectEFFICIENCY IMPROVEMENT
dc.subjectEFFICIENCY IMPROVEMENTS
dc.subjectEFFICIENT POWER PROCUREMENT
dc.subjectELECTRIC POWER
dc.subjectELECTRICITY
dc.subjectELECTRICITY CAPACITY
dc.subjectELECTRICITY DISTRIBUTION
dc.subjectELECTRICITY GENERATION
dc.subjectELECTRICITY SECTOR
dc.subjectELECTRICITY SUPPLY
dc.subjectENERGY CONSUMPTION
dc.subjectENERGY EFFICIENCY
dc.subjectENERGY GENERATION
dc.subjectENERGY SHORTAGE
dc.subjectFINANCES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL DISTRESS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL SUPPORT
dc.subjectFINANCIAL VIABILITY
dc.subjectFISCAL DEFICIT
dc.subjectFIXED COSTS
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN INVESTORS
dc.subjectFUEL
dc.subjectFUEL COSTS
dc.subjectFUTURE DEMAND
dc.subjectGAS
dc.subjectGDP
dc.subjectGENERATION
dc.subjectGENERATION CAPACITY
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT BUDGETS
dc.subjectGOVERNMENT POLICIES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATE
dc.subjectHEAT
dc.subjectHEAT RATE
dc.subjectHEAT RATES
dc.subjectHUMAN DEVELOPMENT
dc.subjectHUMAN RESOURCES
dc.subjectHYDROPOWER
dc.subjectIMAGES
dc.subjectINDEPENDENT POWER PRODUCERS
dc.subjectINDEPENDENT REGULATION
dc.subjectINEFFICIENCY
dc.subjectINFLATION
dc.subjectINFORMATION SYSTEMS
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINFRASTRUCTURE DEVELOPMENT
dc.subjectINSTITUTION
dc.subjectINSTRUMENT
dc.subjectINTEREST COSTS
dc.subjectINTEREST PAYMENTS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL ENERGY
dc.subjectINVESTMENT FLOWS
dc.subjectKILOWATT HOUR
dc.subjectLICENSE
dc.subjectLICENSES
dc.subjectLIQUIDITY
dc.subjectLLC
dc.subjectLOAD FACTOR
dc.subjectLOAD FACTORS
dc.subjectLOAD PROFILE
dc.subjectLOAN
dc.subjectLOANS FROM BANKS
dc.subjectLONG-TERM LOANS
dc.subjectMARKET DATA
dc.subjectMARKET DEVELOPMENT
dc.subjectMARKET REFORM
dc.subjectMARKET REFORMS
dc.subjectMARKET STRUCTURE
dc.subjectMARKET STRUCTURES
dc.subjectMONOPOLY
dc.subjectMONOPOLY SUPPLIER
dc.subjectNETWORK ACCESS
dc.subjectNETWORK PLANNING
dc.subjectNETWORKS
dc.subjectNONPAYMENT
dc.subjectNONPERFORMING LOANS
dc.subjectOIL
dc.subjectOIL CONSUMPTION
dc.subjectOPEN ACCESS
dc.subjectOPERATIONAL EFFICIENCY
dc.subjectOPPORTUNITY COST
dc.subjectOUTSOURCING
dc.subjectOUTSTANDING LOANS
dc.subjectPEAK DEMAND
dc.subjectPHOTO
dc.subjectPOLICY FRAMEWORKS
dc.subjectPOWER
dc.subjectPOWER CAPACITY
dc.subjectPOWER CORPORATION
dc.subjectPOWER COSTS
dc.subjectPOWER DISTRIBUTION
dc.subjectPOWER GENERATION
dc.subjectPOWER GENERATORS
dc.subjectPOWER GRID
dc.subjectPOWER INDUSTRY
dc.subjectPOWER PLANTS
dc.subjectPOWER PROCUREMENT
dc.subjectPOWER PRODUCERS
dc.subjectPOWER PURCHASE
dc.subjectPOWER PURCHASE AGREEMENTS
dc.subjectPOWER PURCHASE COSTS
dc.subjectPOWER PURCHASES
dc.subjectPOWER REQUIREMENT
dc.subjectPOWER SECTOR
dc.subjectPOWER SECTOR DEVELOPMENT
dc.subjectPOWER SECTOR REFORM
dc.subjectPOWER SECTORS
dc.subjectPOWER SHORTAGE
dc.subjectPOWER STATIONS
dc.subjectPOWER SYSTEM
dc.subjectPRIMARY ENERGY
dc.subjectPRIMARY ENERGY SUPPLY
dc.subjectPRIVATE CREDITOR
dc.subjectPRIVATE PARTNERSHIP
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR PARTICIPATION
dc.subjectPUBLIC SECTOR
dc.subjectQUALITY OF ENERGY
dc.subjectQUERIES
dc.subjectREGRESSION ANALYSIS
dc.subjectRENEWABLE ENERGY
dc.subjectRENEWABLE SOURCES
dc.subjectRESERVE
dc.subjectRESERVE BANK
dc.subjectRESULT
dc.subjectRESULTS
dc.subjectRETAIL MARKETS
dc.subjectRETAIL TARIFFS
dc.subjectRETURN
dc.subjectREVENUE COLLECTION
dc.subjectRISK PROFILE
dc.subjectRURAL ELECTRIFICATION
dc.subjectSENSITIVITY ANALYSIS
dc.subjectSHORT-TERM BORROWING
dc.subjectSOLVENCY
dc.subjectSTATE UTILITIES
dc.subjectTARGETS
dc.subjectTARIFF CHANGES
dc.subjectTARIFF REFORMS
dc.subjectTARIFF REVISIONS
dc.subjectTARIFF STRUCTURE
dc.subjectTAX
dc.subjectTELEPHONE
dc.subjectTHERMAL PLANTS
dc.subjectTHERMAL POWER
dc.subjectTHERMAL POWER GENERATION
dc.subjectTHERMAL POWER PLANT
dc.subjectTOTAL COSTS
dc.subjectTOTAL DEBT
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRADING
dc.subjectTRANSACTION
dc.subjectTRANSLATION
dc.subjectTRANSMISSION
dc.subjectTRANSMISSION LINES
dc.subjectTRANSMISSION SYSTEM
dc.subjectTRANSMISSION SYSTEMS
dc.subjectTRANSPARENCY
dc.subjectTURNOVER
dc.subjectUNIVERSAL ACCESS
dc.subjectUTILITIES
dc.subjectVALUE CHAIN
dc.subjectVARIABLE COST
dc.subjectVARIABLE COSTS
dc.subjectWHOLESALE MARKET
dc.subjectWIND
dc.titleBeyond Crisis : The Financial Performance of India's Power Sectoren
dspace.entity.typePublication
okr.date.disclosure2014-11-10
okr.doctypePublications & Research::Publication
okr.docurlhttp://documents.worldbank.org/curated/en/2014/11/20364772/beyond-crisis-financial-performance-indias-power-sector
okr.globalpracticeEnergy and Extractives
okr.globalpracticeFinance and Markets
okr.guid799641468041987190
okr.identifier.doi10.1596/978-1-4648-0392-5
okr.identifier.externaldocumentum000333037_20141110051145
okr.identifier.internaldocumentum20364772
okr.identifier.report92490
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/11/10/000333037_20141110051145/Rendered/PDF/924900PUB0978100Box385375B00PUBLIC0.pdfen
okr.region.administrativeSouth Asia
okr.region.countryIndia
okr.topicEnergy::Energy Production and Transportation
okr.topicInfrastructure Economics and Finance::Infrastructure Economics
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::E-Business
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth
okr.unitEnergy & Extractives GP - IFC (GEEDR)
relation.isAuthorOfPublication4ce1f899-ff9c-5b54-966e-dd0e07496330
relation.isAuthorOfPublication.latestForDiscovery4ce1f899-ff9c-5b54-966e-dd0e07496330
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