Power price drops 5.7% to Rs 2.32 per unit in November
Spot power price of Rs 2.32 per unit was recorded in November, a drop of 5.7% over the average trading price in October which was Rs 2.43 per unit, Indian Energy Exchange (IEX) said on Monday.
“The average Market Clearing Price (MCP) was Rs. 2.32 per unit, 5.7% decline over last month and 13% decline over the same month last year,” IEX said.
The average Area Clearing Price (ACP) the price at which settlement takes place, varied from Rs. 1.94 per unit to Rs. 3.30 per unit, the report said.
The spot market on an average basis reached 1,191 participants. The highest participation was on 9 November, when 1,289 participants traded on the Exchange, the report added.
“Even with the weather variations like winters setting in the North and cyclonic rains affecting the South the Day-Ahead Market at IEX traded 3,401 Million Units (MUs) in November, maintaining its momentum with 113 MUs traded on a daily average basis,” IEX said.
IEX further added, “Due to congestion on the Inter-State Transmission Corridor, 5 MUs were lost on an average daily basis. The Southern import was congested about 58% of the time mainly due to increased demand in the region and limited availability of the corridor. The Northern import was congested 10% of the time during the month.”
Average Clearing Prices (ACP) in the North-East, East and West regions was at Rs 2.25 per unit, in the North it was Rs 2.31 per unit and in the South it was recorded at Rs 2.87 per unit.
Graphical depiction of average ACP in November:
Source: IEX report
“The market remained buyer friendly with the average daily purchase bid of 132 MUs and average daily sell bid of 245 MUs. The Open access consumers were key buyers in the market followed by distribution companies,” the report added.
IEX said that the total sell bids of 7,337 MUs was recorded with ‘buy’ bids at 3,959 MUs and cleared volumes at 3,401 MUs.
Average daily buy-sell at regional level for November vis-à-vis October:
Source: IEX report
“The Term Ahead Market saw increased volume vis a vis previous month as 201 MUs were traded, about 116% increase over 93 MUs traded last month,” IEX said.