Power tariff soars to a decade high of Rs 18/unit in spot market

Power tariff touched a decade high of Rs 18 per unit in the spot market on Tuesday due to low hydro and wind energy production and coal shortage at thermal plants.

"Spot power price for supply on Wednesday touched 10-year high of Rs 18 per unit in spot trading on Indian Energy Exchange (IEX) on Tuesday. The average spot power price was also high at Rs 7.12 per unit at IEX on Tuesday," a source said.

The power price have seen an upward trend in the day ahead market (DAM) at IEX since September 23 when it touched to a high of Rs 14.09 per unit. The prices soared further to hit a nine-year high of Rs 16.49 per unit in the day ahead market on September 28. The spot power rate touched another high of Rs 17.61 per unit in trading at IEX on Sunday for supply on Monday.

According to the IEX data, the previous high was recorded at Rs 17 per unit in August 2009.

A total of 274 MU (million units) were sold for supply on Wednesday. In the DAM trading session concluded Tuesday at IEX, there were .