Power prices drop on economic downturn

Short-term power trading was in vogue only a few months back. Reportedly, there were also some small companies that had stopped manufacturing to sell power at higher rates. Now, as slowdown hits sentiment, the euphoria is over with power prices correcting. Short-term trading of power was certainly a huge money spinning opportunity for corporates with electricity being sold at a premium, but with an economic downturn, the power prices have dropped.