Power Crunch Fears in India Push NTPC to Seek Spot Market Coal
- Utility is said to be preparing tender to buy 3 million tons
- Nation is bracing for hotter weather to add electricity demand
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NTPC Ltd., India’s largest power producer, is making a rare move to buy domestic coal in the spot market, underscoring rising concerns about a potential squeeze on summer energy supply.
The state-owned generator plans to issue a tender for 3 million tons in the next week or so, according to people familiar with the plan, who asked not to be named as the information isn’t yet public.