Coal shortage: Will your electricity bill go up?
NEW DELHI: Power prices have surged to record highs globally, driven by shortages in Asia and Europe.
The global stock market has been jittery on concerns over rising energy costs which are likely to stoke inflation and curtail economic recovery, especially in a country like India where petrol and diesel prices are already at all-time highs.
The coal shortage among thermal power plants across the country led to a surge in spot market prices in power exchange.
Spot prices have more than tripled over the past two weeks to Rs 16.5 per unit on Monday, from Rs 4.4 in September. Many generators and industrial users are being forced to buy electricity at these high rates as shortage of coal has forced rotational power cuts in several states.
