Power sector performance in Q4FY26 is expected to be mixed, with underlying demand showing limited traction. Peak demand grew by ~2% YoY to 245GW; energy consumption also rose by ~2% YoY to 425BU. Power prices continued to moderate, with DAM prices declining ~12% YoY to INR3.9/kWh, led by higher renewable generation and comfortable coal availability, keeping supply conditions benign. Operational performance remained mixed across playersNTPC reported ~4% YoY decline in generation with PLF moderating to 65% (-400 bps YoY), while Tata Power saw a sharp decline in generation due to disruptions at Mundra. CESC reported stable...