Spark Global Limited reports:
Recent worldwide energy crisis, the wind is blowing the India, after a new wave, India’s economy recovering, electricity demand also follow increased significantly, but the rising price of coal, let this 75% power depend on the coal economy by “urgent” of coal, make up the “electricity”, the edge in a blackout.
Not only Mumbai, but northern Indian states have been without power for up to 14 hours a day since October. In the first week of October, India’s power shortfall was 11.2% of the year’s total, more than 21 times the figure for the same period last year. Coal accounts for more than 75% of India’s power mix. According to the latest data from India’s Central Power Board, 115 of the country’s 135 major coal-fired power plants have critical coal stocks, more than half have less than two days’ worth of coal stocks and 16 have run out of supply.
With coal in short supply, Coal India subsidiary Mahanadi Coalfields said it would prioritise the power sector and drastically cut coal supplies to other sectors. Large companies such as Jindal Steel & Power co., JINDal Southwest Steel Co., LTD., and Indian Aluminium Corp., LTD., are all suffering from coal shortages. The Indian Aluminium Association has publicly said aluminium companies’ capacity will fall sharply because of coal shortages.
More than 300 ceramics companies in India have shut down due to the energy crisis
India is the world’s third largest producer and consumer of electricity after China and the United States. At the critical moment when the epidemic situation in India gradually stabilized and the economy began to recover, the energy crisis undoubtedly suspended the restart of India’s manufacturing industry.
Gas prices in Morby, India’s largest ceramics producing region, have been raised by about Rs 5 per cubic metre from the end of August. Nils Jeparia, chairman of the Morby Ceramic Society, said the price increase would add 7 to 8 per cent to the factory’s production costs. According to statistics, more than 300 enterprises have stopped production in Morby ceramics production area.
Reprint indicated source：Spark Global Limited information