Power trade jumps 11% at IEX in April

PTI Feeds
Power trade jumps 11% at IEX in April

New Delhi, May 3 (PTI) With temperature rising, the spot power market at Indian Energy Exchange (IEX) saw about 11 per cent jump in electricity trade during April.

“The spot power market saw highest monthly trade of 3,717 million units (MUs) in April 17, an increase of about 11 per cent from 3,364 MUs traded in March. On a daily average basis, over 124 MUs were traded, up from 109 MUs in the previous month,” the power trading platform said in a statement.

With summer peaking and increase in buy volume, the price discovered in the market continued to be on the lower side.

The average Market Clearing Price (MCP) for the month was Rs 2.77 per unit, about 9.1 per cent increase over Rs 2.56 per unit discovered in March last year.

The Area Clearing Price (ACP) — the price at which settlement takes place — varied from Rs 2.32 per unit to Rs 3.75 per unit across the bid.

The market continued to have enough liquidity and remained buyer-friendly throughout the month since the average daily sell bids at 194 MUs far exceeded average daily buy bids of 151 MUs.

The inter-state transmission congestion eased considerably vis-a-vis last month. Overall, about 67 MUs were lost in April, about 2 MUs on a daily average basis, while in March, 154 MUs were lost — almost twice as much in this month.

The congestion was mainly on account of constraints in southern imports which was congested 53.5 per cent of the time, while northern import remained congestion free.

“The market realised one nation, one grid, one price on four occasions… this month and when the market was cleared at a single price,” it said.

This is published unedited from the PTI feed.