India mein kam baarish ke karan last 5 months se Hydro Power generation lagatar gir raha hai. Power supply maintain karne ke liye ab Coal-based thermal power ka sahara lena pad raha hai, jo energy sector ke liye cost pressure create kar raha hai.
Energy Sector mein halchal
Is saal monsoon ne kaafi disappoint kiya hai, jahan 13-15% ki rainfall deficit record ki gayi hai. Iska seedha asar reservoir levels par pada hai, jiske chalte hydro power generation lagatar 5 mahino se down chal raha hai.
Coal ka sahara, logistics par load
Sirf September mein thermal power generation 18% tak badh gaya hai taaki supply gap ko bhara ja sake. Halat itni tight hai ki nighttime power shortage 7.7 GW tak pahunch gaya hai, jo summer heat wave se bhi zyada hai. Coal supply chains par load badh gaya hai kyunki inventory kam ho rahi hai.
Investors ke liye kya hai insight?
Pure-play hydro companies ke liye ye ek risky phase hai kyunki fixed costs wahi rehte hain aur output gir raha hai. Lekin kuch players ne apni position sambhali hai. Example ke liye, NHPC ne Q2 2026 mein 7.22% ka revenue growth dikhaya hai, kyunki unhone naye projects launch karke apne portfolio ko diversify kiya.
Ab focus is baat par hai ki power exchanges par price volatility kitni rehti hai aur winter season ke liye water levels mein koi recovery aati hai ya nahi. Sector ke margins par nazar rakhna ab investors ke liye bahut zaroori ho gaya hai.