CHENNAI: As a result of the drastic drop in power demand in Tamil Nadu and nearby states, the price of electricity at the power exchange fell from Rs 10.38 a unit to Rs 6.48 a unit in the past couple of weeks. According to data from the Indian Energy Exchange (IEX), the country’s largest power exchange, the average price of electricity a unit on its platform was Rs 10.38 on May 6, the highest price in the month.
The heavy downpour in coastal states due to cyclone Asani, however, pushed down power demand in Tamil Nadu, Andhra Pradesh, and Telangana. As a result, price of power fell to Rs 3.35 a unit on May 15. The average price of power a unit for the week between May 9 and 15 was Rs 5.41. As on Saturday, the rate was Rs 6.48 a unit.
A senior Tangedco official told TNIE that hydro and wind power generation also helped to meet the demand in a few places in the State. He pointed out that daily power demand in Tamil Nadu reached 17,563 Megawatt (MW) on April 29 due to the summer. From the May first week, however, the demand fell and stood between 15,000-15,500 MW.
“As of now, Tangedco has been receiving 2,500 MW wind power regularly, which plays a critical role in meeting power demand amid coal shortage. Besides, the Union government also approved the import of 21 lakh tonnes of coal and we (Tangedco) have already ordered 4.8 lakh tonnes of coal from abroad. As such, there is no need to go to the energy exchange to purchase power” the official added.