New Delhi, Oct. 1 -- Heavy rains and a late-month drop in electricity demand pushed power prices on exchanges to near-zero levels in several trading blocks in the last week of September, according to data from the India Energy Exchange.

On 26 and 27 September, prices on the real-time platform were at or below 10 paise a unit for 26 and 18 trading blocks, respectively. Each trading block on the platform ranges for 15 minutes. On 24 September, prices fell below 10 paise in 34 trading blocks.

The sudden softening in prices comes as demand eased with cooler weather and the completion of much of the kharif sowing season. The average price in the real-time market fell 13.3% to Rs.2.75 a unit in September from Rs.3.17 a unit in the same month ...