- Coal receipts meet only 86% of consumption during 1-13 September
- Critical plants rise to 62; Rajasthan, Maharashtra and southern utilities face heightened risk
India’s thermal power plant coal inventories declined sharply during 1-13 September 2026 as elevated electricity demand pushed coal-fired generation higher while fuel receipts consistently lagged consumption.
Power plants received 29.40 million tonnes (mnt) of coal during the period but consumed 34.25 mnt, creating a cumulative deficit of 4.85 mnt. Coal receipts covered only 85.8% of consumption, forcing utilities to draw down inventories on every day of the period.
Receipts trail consumption throughout period
Coal burn strengthened further during the period of greatest power-system stress. Daily consumption exceeded 2.73 mnt during 10-12 September, when national electricity shortages and exchange prices were also particularly elevated.
The highest daily coal consumption was 2.75 mnt on 12 September, while receipts stood at only 2.34 mnt. Even on 8 September, when receipts reached a period-high 2.50 mnt, they remained below consumption of 2.62 mnt.
Stocks fall by over 4 mnt
Central Electricity Authority (CEA) – reported coal inventories declined from 28.64 mnt on 1 September to 24.28 mnt on 13 September, a reduction of 4.36 mnt, or 15.2%.
Stocks consequently fell to 42% of normative requirements from 49% at the beginning of the period. The number of plants classified as critical increased from 45 to 62, after touching 63 on 11 September.
At the 13 September consumption rate, aggregate inventory was equivalent to approximately nine days of burn. However, the national figure masks significant variation: several plants had less than one day of physical stock, while better-supplied stations held considerably larger buffers.
Indigenous coal stocks accounted for most of the depletion, declining by 4.11 mnt to 20.89 mnt. Imported coal stocks fell by around 0.25 mnt to 3.39 mnt.
The cumulative receipts-consumption deficit was around 0.49 mnt larger than the change between published stock snapshots, potentially reflecting reporting revisions, stock adjustments and timing differences.
Western region holds most immediate plant-level risks
Several western-region power plants reported less than one day of coal cover on 13 September. Sasan UMPP in Madhya Pradesh held 32,700 tonnes (t) against daily consumption of 43,200 t, while Adani Mundra III in Gujarat held 16,800 t against burn of 21,800 t.
In Maharashtra, Butibori held 9,300 t against consumption of 10,100 t, while GMR Warora had 8,400 t against burn of 8,900 t. Adani Tiroda held around 1.7 days of coal.
Maharashtra’s state generator also remained under pressure. MAHAGENCO plants received 99,800 t on 13 September against consumption of 137,100 t, widening the drawdown by a further 37,300 t. Khaparkheda, Koradi and Parli were classified as critical.
Rajasthan emerges as northern hotspot
Rajasthan had one of the largest concentrations of critically stocked plants. All seven RRVUNL stations covered by the report were classified as critical.
The utility held only 284,400 t, equivalent to 14% of its normative requirement. Suratgarh TPS had approximately 1.5 days of physical cover and only 8% of normative stock, while Suratgarh STPS and Kota held around 2.3 and 2.5 days, respectively.
RRVUNL plants received 71,700 t on 13 September but consumed 86,200 t, indicating that the fleet’s already depleted inventory continued to decline.
Southern plants exposed to logistics constraints
Southern plants dependent on long rail routes, rail-sea-rail movement or imported coal also faced elevated risk.
Torangallu TPS SBU-I in Karnataka reported no closing stock while receiving and consuming 1,300 t during the day, indicating dependence on just-in-time supply. Bellary held around 1.8 days of coal, while Simhapuri in Andhra Pradesh had approximately 1.6 days and received no coal on 13 September.
APGENCO’s Dr N. Tata Rao and Rayalaseema plants collectively held only 14% of normative stocks. CEA remarks also indicated coal awaiting movement at ports, underlining that the constraint involved logistics and evacuation in addition to mine-level availability.
Outlook
Coal inventories will remain under pressure unless daily receipts rise above consumption. At the average deficit recorded during 1-13 September, stocks would decline by a further 2.6 mnt per week.
Raising supplies to merely match burn rates would arrest depletion but would not rebuild buffers ahead of subsequent demand peaks. Sustained receipts above 2.6-2.7 mnt/day, reliable railway movement and faster evacuation of port stocks will be required.
Rajasthan, Maharashtra and long-distance-supplied southern plants remain particularly vulnerable. Any further rise in power demand, railway disruption or deterioration in coal production could translate into generation constraints and continued reliance on expensive short-term electricity purchases.
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