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Market move● Neutral for Indian equities
Power prices plunge near zero on exchanges as rains ease demand
The brief
- Power prices on exchanges plunged near zero as cooler weather and completed kharif sowing eased demand
- Lower power prices may pressure Indian power generators while benefiting electricity buyers
- India’s power shortfall reaches a three-year peak despite higher coal burn
- India’s September power deficit hits a decade high as monsoon ends 13% below normal
- Centre's Captive Coal Push May Add 5-7 GW, Fall Short Of Peak Demand Surge
- El Nino effect: India’s coal imports may rise in October-December
- No coal shortage, says Reddy; plants with critical stocks rise to 82