MUMBAI (Reuters) ? An increase in power tariffs in India is inevitable given the sharp rise in coal prices, the head of the Central Electricity Regulatory Commission told reporters on Thursday.
Indian power utilities have been scouting oversees for coal assets to fuel the burgeoning power demand from Asia's third largest economy, with state-run Coal India, the world's largest coal miner, unable to fulfil the entire domestic demand.
Global thermal coal prices have been trading at around $120 a tonne, more than 20 percent higher than prices a year ago when prices were below $100 per tonne.
(Reporting by Ketan Bondre; Editing by Aradhana Aravindan)
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