Centre asks power plants running on imported coal to maximise output, invokes emergency law
1 min read . Updated: 20 Feb 2023, 10:25 PM IST
PremiumA Power Ministry's notice cited by the report, mentioned that it expects a peak demand of 229 gigawatts in April. And for this, the country would require to operate a thermal capacity of 193 gigawatts that month.
Power stocks will be in focus as the government on Monday invoked an emergency law, pushing power plants that run on imported coal to maximize output. The Power Ministry expects a peak demand of 229 gigawatts in April.
As per a Reuters report, India invoked an emergency law to force power plants that run on imported coal to maximize output ahead of an expected record surge in power usage this summer.
A Power Ministry's notice cited by the report, mentioned that it expects a peak demand of 229 gigawatts in April. And for this, the country would require to operate a thermal capacity of 193 gigawatts that month.
According to the report, many of India's power plants that use imported coal, including those owned by Adani Power and Tata Power in the western state of Gujarat, have not operated at full capacity recently because they have found it difficult to compete with power generated from cheap domestic coal.
The ministry's notice stated that it expects all imported coal-based power plants to operate at full capacity and sell power to buyers on exchanges.
At present, the country's imported coal plants' total capacity is to the tune of 17 gigawatts.
On BSE, the Power index dipped by 0.6% to end at 3,376.90. Adani Transmission and Adani Green were top laggards with 5% lower circuit. While NHPC and JSW Energy also dragged the performance with a downside of 2.4% and 1.8%.
Adani Power was the top gainer with the stock freezing at 5% upper circuit. ABB and Power Grid followed with 1.4% and nearly 1% upside.