The average power purchase price on India’s largest electricity exchange, Indian Energy Exchange Ltd., rose in March to the highest level since April 2009, as shown on the company’s website, reflecting a sharp increase in power demand. .
Electricity demand grew at the fastest pace in three months during March, the worst since October due to low temperatures and a sharp increase in economic activity.
The number of buy bids, reflecting demand in the market on a day-to-day basis, exceeded sell bids, indicating supply, up 35%, the data showed, pushing the average buy price to 8.23 Indian rupees ($0.1087) per Extended to kilowatt hour (kWh). Double the average price in March 2021.
India’s electricity regulator capped prices at Rs 12 ($0.1580) per kWh, saying in an order on 1 April that “abnormally high prices” at electricity exchanges hurt the interests of consumers and the confidence of buyers in the market. reduces.
India’s electricity demand is expected to increase further in summer, after weather officials forecast above-normal temperatures in April for most parts of the northwest, northeast and central regions.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)