Spot market prices peak to Rs 9.91 per unit

Spot market power prices witnessed a spike to Rs 9.91 per unit on September 12, 2017, marking a three-year high. The average price on the Indian Electricity Exchange peaked to Rs 5 per unit. The sudden surge was attributed to an increase in demand from state-owned discoms coupled with lower generation by the coal, hydro, wind and nuclear power plants in the country. Reportedly, wind-based generation dropped by 70 per cent due to unfavourable weather conditions while hydro-based generation plunged by 12 per cent owing to low rainfall. Nuclear power generation, too, declined by 36 per cent, thereby adding to the crisis. Meanwhile, coal-based power plants were facing fuel unavailability issues.

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