India on Monday invoked an emergency law to force power plants that run on imported coal to maximise output ahead of an expected record surge in power usage this summer, according to an internal power ministry notice seen by Reuters.
The variable tariff for these plants will be fixed by a panel appointed by the government, the notice said, adding that the panel will use the index with lowest cost of imported coal for calculating the variable tariff for every plant.
The ministry expects a peak demand of 229 gigawatts in April and to address that India would need to operate thermal capacity of 193 gigawatts that month, the notice said. India expects its power plants to burn about 8% more coal in the financial year ending March 2024, with increased economic activity and erratic weather to continue to boost growth in demand for power.Reporting by Sarita Chaganti Singh; Writing by Shivam Patel in New Delhi; Editing by Jan Harvey and Ed Osmond
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