In this scorching heat as the power demand across the country keeps on increasing the power trading prices have also gone up . In an article of the Business Standard the cause of rising trading prices was highlighted. Short-term power prices have seen an increase of 20-25 %. The highest price at which the power was traded rose to Rs 5 per unit.
In an article of the Business Standard , Rajesh Mendiratta, Indian Energy Exchange’s Senior VP for Business Development said that “Due to mismatch in demand and supply, the prices are expected to increase further but it will not reach too high a level,” . The average for power trading was Rs 3.5-4 per unit where last year the average rates were 2.9 per unit in the same period.
Due to inadequate coal supply the power industry is unable to meet the rising need of power in the country.Demand for coal in India has grown at an annual rate exceeding 8.4 per cent over the past five years.
With the increasing demand of power and shortage of coal supply it seems that the our electricity bills will keep going up. Lets hope that the monsoon comes soon which will bring some relief to our regular power cuts.
Contributed by Rahul Tyagi