Spot power price up 27% to Rs 3.2/unit in February



Source: PTI

The average spot power price rose 27 per cent to Rs 3.2 per unit at Indian Energy Exchange (IEX) in February this year compared to the same month a year ago.

“The average Market Clearing Price (MCP) discovered in the day-ahead market was at Rs 3.23 per unit, which was 27 per cent above Rs 2.54 per unit same month last year (February 2017),” IEX said in a statement.

The day-ahead market saw a trade of 3,326 MU (million units) in February, which is almost at par with 3,375 MU traded in January this year and about 14 per cent more than 2,927 MU traded in February 2017.

On daily average basis, about 119 MU were traded. Average daily sell and buy bids were 224 MU and 155 MU respectively. The total sell bids during the month were 6,270 MU and the total buy bids were 4,326 MU.

IEX said as seen in January 2018, the increase in spot market price was largely on account of rise in demand associated with seasonal variation and increase in coal price and railway freight.

The average spot power price was the highest at Rs 4.16 per unit during 7 am to 10 am followed by Rs 3.67 per unit in evening peak hours during 6 pm to 11 pm.

One Nation, One Price was realised for 24 days in February 2018 while it was realised for 23 days in the previous month.

The day-ahead market (DAM) experienced transmission congestion mainly on account of import by northern states, which was 4 per cent of the time.

On daily average basis, 872 participants traded in the day-ahead power market last month. In 2017-18, as on date, the DAM has traded 41,529 MU at an average price of Rs 3.19 per unit.

The Term-Ahead Market (TAM) traded 17 MU in February 2018, mainly in the intra-day and Day Ahead Contingency market segments. The TAM traded 52 MU in January 2018 and 14 MU in February 2017. In 2017-18, as on date, the TAM has traded 1,234 MU.

The Renewable Energy Certificate market which trades on last Wednesday of every month saw trade of 3.90 lakh RECs in February. In 2017-18, 72.49 lakh RECs have been traded.

Source: PTI