Jakarta, CNBC Indonesia – Energy crisis is now happening in a number of countries in the world. After Britain and China, now a similar crisis threatens India.
The country’s utility companies are busy securing coal supplies after a surge in electricity demand from industry and slow imports. This is because of record global prices because rebound electricity demand and competition with China – the world’s largest coal consumer – which is experiencing a severe power crisis.
Government data shows half of the 135 coal-fired power plants (PLTU) only have fuel stock for less than three days. In fact, the rules of the federal government, supply must be there for at least two weeks.
“The supply crunch is expected to continue,” the ratings agency S&P CRISIL said in a report.
“Inventories of coal at (India) power plants will gradually increase until March,” the agency predicted.
In detail, the electricity consumption of states that focus on Industry continues to rise. In Maharashtra, Gujarat and Tamil Nadu for example, consumption grew 13.9 to 21% in the three months to September.
“This year we saw a tremendous growth of industrial demand,” said the director of Gujarat’s electricity regulator, Shameena Husain.
The price of coal from the world’s top exporter, has reached an all-time high. Australia’s Newcastle coal is up about 50%.
Meanwhile, Indonesia rose 30% in the last three months. Benchmark prices for September are even seven times higher than similar grade fuels at Coal India, India’s state-owned mining and refining company.
“Merchants buying coal from Coal India at auction spot commit ‘murder’. They sell at a 50-100% premium,” said a senior official in charge of coal procurement at a major Indian utility operator.
Despite India’s dwindling coal supply, large-scale blackouts have yet to occur. But quoting Reuters, shortages are already evident in Uttar Pradesh, Bihar and Kashmir.
India is the second largest coal importer in the world. Even so, the Mister Fear country has the world’s fourth largest reserves.
(boss / boss)
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