Buy Bids Touched

The Economic Times - - Pure Pol­i­tics -

So­lar power and ther­mal plants gen­er­a­tion has risen by 16% each since Sep­tem­ber 1.

The buy bids at ex­changes have in­creased by 85%, while sell bids fell 7% in the last 15 days. The to­tal power sold in­creased 57%.

In­dus­try ob­servers said Sun­day was a one-off day as buy bids touched 265 mil­lion units against sale bids of 215 mil­lion units on the ex­change, a gap of 50 mil­lion units or 2,000 mw. “About 15 days back, lot of dic­soms were sell­ing their sur­pluses,” said an in­dus­try in­sider.

Cen­tral Elec­tric­ity Au­thor­ity chair­man Pankaj Ba­tra said de­mand from Ma­ha­rash­tra was high be­cause of the on­go­ing Gana­p­ati fes­ti­val while Gu­jarat has also been ag­gres­sively buy­ing. “Last few days, Gu­jarat has been buy­ing 2,500 mw, while Ma­ha­rash­tra around 2,000 mw,” he said. The hot weather con­di­tions due to de­plet­ing rain­fall con­trib­uted to the in­creased load, Ba­tra told ET. “Sun­day, how­ever, must be one of the im­por­tant days of Gana­p­ati fes­ti­val for im­mer­sion,” he said.

Last Oc­to­ber, power prices on ex­change touched .₹ 10 per unit for a 15-minute slot due to coal short­age. The prices touched a five-year high of .₹ 11.41 per unit in May this year due to ag­gres­sive bid­ding by cap­tive units.

How­ever, forth­com­ing as­sem­bly polls and agri­cul­tural de­mand in Oc­to­ber could fur­ther trig­ger rise in the spot power mar­ket prices. As­so­ci­a­tion of Power Pro­duc­ers direc­tor gen­eral Ashok Khu­rana said cash­strapped power plants’ in­abil­ity to pay for im­ported coal has led to the spike in power prices. “Many of gen­er­a­tors un­der NCLT or in stress cat­e­gory have acute liq­uid­ity is­sue with no bank will­ing to en­hance their work­ing cap­i­tal. Con­se­quently, these as­sets don’t have work­ing cap­i­tal to buy im­ported coal. E-auc­tion quan­ti­ties are dry­ing up and prices too have shot up. There­fore, the fuel short­ages, are caus­ing spike in prices,” he said.

Data up­loaded last by the power min­istry on Sep­tem­ber 5 on elec­tric­ity gen­er­a­tion showed a ca­pac­ity of 89,000 mw un­der shut­down against 184 GW on­line ca­pac­ity.

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