India's Plant Coal Stocks Fall 60% to 19 Mt After Hydro Slump

Coal stocks at Indian power plants stood at 19 million tonnes at the end of September, compared with 47 Mt a year earlier, according to JM Financial's monthly sector review.

September consumption was 162.19 BU, up 11.35%. Peak demand reached 269.06 GW on 10 September. Hydro generation fell 16% to 19 BU, and thermal rose 16% to 118 BU. Coal plant load factor climbed to 69% from 62%. The evening peak deficit exceeded 7 GW.

At September's rate of thermal generation, we estimate 19 Mt is about seven to eight days of national burn, assuming 0.63–0.68 kg of coal per kWh. Our research note sets out the calculation.

IEX's weighted average clearing price was Rs4.9/kWh, against Rs3.4 a year earlier. Imported Indonesian coal averaged $111 a tonne.