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India Inc does better than expected in Dec quarter
Sequentially, the story changes track, with net profit down 2%.

Bye bye, brand name
Self-deprecating humour isn’t something one sees too much of in this country (where making fun of others is held a nobler pursuit than laughing at one’s own foibles), so I’m always pleased to read Saad Akhtar’s webcomic Fly, You Fools! (People are Mindless Cattle), a good-natured, witty take on some of the things we read about in the newspapers every day. It isn’t brilliantly written or drawn (in fact, it mostly uses photos and mixed media rather than fresh illustrations) but it’s goofy and perceptive, casting fresh light on (among other things) security checks at mall entrances (http://tinyurl.com/5s25pe), rich kids mowing down pavement-dwellers in their Mercs (http://tinyurl.com/mhpwep), and loud honking at traffic signals as a substitute for sexual inadequacy (http://tinyurl.com/kl7knc).

News of the day

Snyder to take over as Dean of Yale School of Management
University of Chicago"s Booth School of Business (SOM) Dean, Edward Snyder will take over as the Dean of Yale School of Management in July 2011.
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OERC seeks public view on power regulations

With the demand for power in the state exceeding the supply by about 500 Mw to 600 Mw, the Orissa Electricity Regulatory Commission (OERC) today invited public comments on the consultative staff paper on power regulation in the state. - State, Gridco seek time to respond to queries on Reliance Energy-owned utilities - OERC asks utilities to prepare contingency plan - Consumers to pay higher tariff for uninterrupted power, says OERC - OERC fixes tariff for solar photovoltaic power - Orissa withdraws CGP restrictions - OERC stays the OPTCL order to limit industrial drawal According to the paper, the power supply situation in the state is now passing through a critical stage with the demand far exceeding the supply. The hydro reservoirs, considered to be the backbone of the power supply in Orissa are in depleted situation. The thermal power stations are also not able to generate in full capacity due to various factors like non-availability of coal. On the other hand, the Independent Power Producers (IPPs), who were supposed to start operations by this time, are yet to come up due to various inherent problems like land acquisition. Similarly, the captive generating plants (CGPs) in the state are unable to deliver their surplus power to meet the requirement. Though the tariff in Orissa is low compared to the other states, the power that can be arranged (in case available) from outside shall be at an exorbitant rate which the general consumers may not be able to afford. In this scenario, there is need of demand management in the use of energy by all categories of consumers including industrial consumers of the state, the commission pointed out. Since the commission is mandated under Section 23 of the Electricity Act, 2003 to issue order for regulating supply, distribution, consumption or use thereof so as to maintain, efficient supply, secure, equitable distribution of electricity and promote competition, there is a requirement for issue of a standard load shedding protocol to be implemented in the state. Accordingly, the consultative staff paper on power regulation is prepared and placed in the website of OERC. The general public have been requested to submit their views to the commission by 25 October 2009. After the commission receives the opinion, power shedding will be taken up in the state. Besides, the commission will prepare a working plan for the State Load Despatch Centre (SLDC), the Orissa Power Transmission Corporation Ltd. (OPTCL) and the distribution companies to avoid any un-expected inconvenience to the consumers.


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