Battery energy storage and pumped storage plants, according to power minister RK Singh, will eventually help to fulfil the growing demand for electricity. The two storage plans were revealed in the 2023–24 Union budget. According to him, a policy for pumped hydro storage plants is in the works, while the overall cost of the 4,000 Mwh
battery energy storage is approximately 9,500 crore. According to the minister, if necessary, the government could use section 11 of the Electricity Act to address peak power consumption. According to the clause, the government may, in exceptional cases, request that a generating company run any station in line with its instructions. In spite of the fact that their power purchase agreements do not permit greater fuel costs to be passed on to the buyer, it authorises the government to utilise its emergency powers to force domestic coal-based facilities to continue producing electricity when they start blending imported coal.
According to Singh, India is leading the transition in energy. The G20 will hold an energy transition working group meeting the following week, which India is leading. Energy efficiency, universal access to renewable energy, low-cost finance for the energy transition, energy security and diversified supply chains, inexpensive and inclusive energy transition, among other topics, will be covered at the meeting.
