Last quarter saw a strong volume growth for discoms. What was the growth driver?
The Q2 volume growth was driven mainly by the increase in demand across the country. Demand increased in states like Gujarat, Maharashtra, Bihar, West Bengal, Telangana, Tamil Nadu and Jammu & Kashmir. These states were active on the exchange platform for purchase of power. In fact, the same trend is continuing in Q3 also.
Spot prices also surged to a nine-year high. What caused the spikes and how did it benefit your business?
The reason for price increase in September and early October was we had early withdrawal of monsoon in September and because of that, hydro generation went down. Wind generation was also lower in September and the problem was aggravated by the shortage of coal in September-October. Read More