May 04, 2016

Demand increases in spot power market with price still below Rs 3 per unit

Press Release

The spot power market at IEX traded over 115 MUs on a daily average basis in April’16, highest ever since the inception of the market in the year 2008.

A total of 3,465 MUs were traded this month, an increase of about 13% over 3,078 MUs traded in March. Average daily purchase bids were 6,151 MW while sell bids were 7,164 MW, an increase of about 14% and 5% respectively over the previous month. Thus, the market on an overall basis remained buyer friendly.

Despite rising temperature and high power demand across the country, the average Market Clearing.

Price (MCP) in April was Rs 2.91 per unit.

The average Area Clearing Price (ACP) - the price at which settlement takes place, were as below:

• ACP in North-East, East and West: Rs 2.69 per unit, 12% increase over March.
• ACP in North: Rs 2.92 per unit, 12% increase over March.
• ACP in South: Rs 4.16 per unit, 17% increase over March.

On an overall basis, the Exchange lost 10 MUs per day due to congestion, almost 11% more than 9 Mus per day lost in March. The ER->SR and WR->SR interconnections were congested about 77% of the time and ER->NR and WR->NR interconnections were congested 36% of the time during the month.

• Total Sell bids: 5,158 MUs
• Total buy bids: 4,428 MUs
• Total Cleared Volume: 3,465 MUs

The Northern and Southern States were Net Buyers while the Eastern, Western and North-Eastern States were Net Sellers.

The table below gives the average daily buy-sell picture at regional level for April’16 vis-à-vis March’16:

1,046 participants traded in the spot market on an average daily basis. The highest participation was on 21 April, 2016 when 1,093 participants traded on the Exchange.

Term-Ahead Market:
About 122 MUs were scheduled during the month across all segments of the Term Ahead Market - Intraday, Day Ahead Contingency, weekly and Daily.