The sudden spiralling coal demand in the country since August this year on the back of poor monsoon and reduced hydel generation saw power prices peak to Rs 10.8 per unit on the power exchange on 16 October.
Again on 17 October, even though for just half an hour, power prices shot up to Rs 10.8 a unit.
Reversing this temporary increase, power price on India Energy Exchange (IEX) on 17 October 2017 was Rs 5.45 per unit on an average for the day, and on 18 October 2017 dropped to an average of Rs 4.33 per unit.
Even though temporary, meetings between the Minister of State (IC) for Power, R K Singh and Minister of Railways and Coal, Piyush Goyal, were held, where the two ministers jointly reviewed the status on Wednesday, 18 October and also spoke to concerned states for an enhanced supply of coal.
“A detailed plan has been agreed on, which would be implemented from today (18 October) and would ensure sufficient supply of coal to power plants,” a senior ministry official said after the meeting. Read More…
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