Not only India and China but the whole of Asia is grappling with the coal crisis. There is only a few days’ stock left in the power plants. Whereas the government says that the country has enough coal and there will be no electricity crisis in the country. On the other hand, apart from the coal crisis in the country, another problem is standing in its mouth. The cost of coal is threatening many non-power industry operations in the country ranging from steel to oil refineries. Along with the increase in the price of coal, there has been a sudden jump in the prices of steel.
India is dependent on coal for electricity
It is well known that coal is the primary fuel which accounts for 70 percent of India’s energy consumption. India is largely dependent on coal to generate electricity. At the same time, India is investing in renewable energy and nuclear energy. As of October 11, 80 per cent of the 135 coal-fired power plants in India have less than four days of stock left, according to data from the Central Electricity Authority. While the central government maintains that there is no shortage of coal in the country, several states have reported shortages and have complained of possible power outages in the coming days. Soon this problem will be resolved.
Also read: Coal Crisis: The impact of the coal crisis not only on India but also on the whole of Asia, know the latest condition of India
impact on iron industry
The industrial sector was already suffering from the corona epidemic since last year. Now somewhere the manufacturing industry has come back on track but it seems that now the power crisis can once again affect it. There are some major industries which may get affected due to the energy crisis. First let’s talk about the iron industry. With coal prices hitting record highs, commodities like iron, steel and aluminum could see an increase in cost of production and a reduction in operations. At the same time, the steel industry can also be affected by the power crisis. The cost price of steel has already seen an uptick.
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