Power prices slide to Rs 1 per unit as Coal India steps up supply

Power prices at exchanges have dipped to nearly Rs 1 per unit following monopoly miner Coal India’s bid to meet annual target by pushing larger volumes in the last few weeks of the financial year amid a decline in demand.

The state-run producer is trying to clear supply backlog to power plants, with the result that producers have accumulated about 20 million tonne of coal, the highest in the past few years. The surplus stock has pushed prices down by about Rs 1.50  per unit over the past month. “Demand for power has also dipped by some 10,000 MW in the past few days mostly due to Holi and the weekend,” said an official of Indian Energy Exchange.

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