El Nino monsoon trims India's hydropower, sparks 7.7GW nighttime shortages
India
India's power situation is getting tricky right now. A super dry monsoon (thanks to El Nino) has left the country with its potentially driest monsoon in 17 years and a big drop in hydropower.
This September, nighttime power shortages have surged to as much as 7.7 gigawatts, even worse than during the summer heat waves.
India's coal reserves at 3-year low
With less hydropower, coal plants have had to step up fast, boosting output by 18% this month alone. But that's drained coal reserves to their lowest point in three years.
Rupesh Sankhe, senior vice president for research at Elara Capital India Pvt. says Coal India needs to move faster on shipments and improve rail logistics.
"We are not in a crisis yet, but the government needs to act fast to prevent one," he said.