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Power prices shoot up to seven-year high of Rs 9.91 in spot market

Power supply prices in the spot power market shot up on Tuesday to a seven-year high at Rs 9.91 per unit. The average price prevailing currently is Rs 5.13 per unit, which is higher than the contracted price for both coal and renewable through long-term agreements across states. The spot market has been witnessing such high prices for a week now. The average market clearing price during this financial year (FY) is Rs 2.87 per unit until September 2017. Whereas, the last high price of Rs 5.19 was discovered in FY 2009-2010. Though, in August and October 2014, Rs 9.5 was discovered for a 15-minute trading period on one day.The increased price is also a major jump from the prevailing price of Rs 2-3 per unit that pushed the Centre to launch a .....

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