Spot power rates hover near fresh CERC cap of Rs 12 per unit
NEW DELHI: Spot power prices on Sunday maxed out at Rs 11.92 per unit on the day ahead market (for April 4) of Indian Energy Exchange, the country’s largest power exchange, as the new ceiling of Rs 12 put by the central tariff regulator came into effect.
Central Electricity Regulatory Commission late on Friday had lowered the ceiling from Rs 30 earlier as a surge in demand on the back of an uptick in economic activities and rising temperature caused prices to spike to Rs 20 per unit.
Abnormally high prices at power exchanges, even for a short period, hurt consumers’ interests and erode buyers’ confidence in the market, the regulator said explaining the rationale behind the intervention.
