Spot Power Price Nearly Doubles In Past 1 Month

Spot Power Price Nearly Doubles In Past 1 Month

India’s daily average spot electricity price has nearly doubled over the last one month and is close to Rs 5 per unit, according to executives of India Energy Exchange, the country’s biggest electricity exchange.

On Monday, the average price for evening peak was Rs 7.7 per kilowatt hour—one the highest in recent times. A price of Rs 5 per unit is a six-month high. It had last crossed Rs 5 per unit in September, when power plants were facing coal shortage. “Daily average price declined gradually after September as the coal supply situation eased. Since then the price had remained subdued, at least till February, with sudden spikes though it did not touch Rs 5 per unit,” one of the executives cited earlier said.

“This time, the reason for spiralling price is a mix of rise in power demand, outages of a few large power-generating units in Gujarat and Haryana as well as inadequate coal supply to certain plants,” said Rajesh K Mediratta, director of business development at Indian Energy Exchange. Read More…

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