Power demands surge amid prediction of heat waves; prices spike

Demands for power have jumped by around 10 per cent in the first 11 months of the current fiscal on a year-on-year basis and may surge further in the coming months amid early warnings of heat waves in northern and central parts of India leading to spike in short-term prices, industry data shows.

A surge in demand has led to purchase bids surpassing the sell bids in the short-term market by 6 GW on average in the last 15 days. The result is a 42 per cent on-year increase in prices in February and a 151 per cent increase on the first day of March, according to data compiled by global analytics firm CRISIL.