“Exceptionally high prices on electricity exchanges, even for a short time, hurt the interests of consumers”
“Exceptionally high prices on electricity exchanges, even for a short time, hurt the interests of consumers”
India’s electricity regulator has urged the country’s electricity exchanges to cap prices at £12 per unit amid surges in electricity demand and the rising cost of imported coal.
The Central Electricity Regulatory Commission said in a statement that prices spotted on power exchanges have remained “significantly” higher in recent days.
Unusually high prices on electricity exchanges, even for a short period of time, hurt consumers’ interests and undermine buyers’ confidence in the market, the Commission says.
The commission also noted that India’s electricity needs have increased due to the start of summer and a pick-up in economic activity following the coronavirus pandemic.
Electricity demand could rise further after weather officials forecast high-above-normal temperatures in most parts of the northwest, northeast and central regions in April.
The Indian Energy Exchange (IEX) and the unlisted PXIL are the two main power exchanges in India.
