The onset of the monsoon and continuing congestion in the transmission corridor, especially towards the southern States, set the pace for the Day-Ahead Spot Power Market in the month of July 2014.
With rainfall providing some relief from the soaring temperatures, the spot power market saw slight decrease in demand in the month of July.
With fuel (coal/gas) constraints affecting the thermal power plants, and lower rainfall reducing hydro-generation as compared to last year, the supply of power on the exchange remained constrained. Consequently, an average of about 75 MUs of power was cleared on a daily basis in July-almost 14 per cent lower than the average daily volume in the month of June.
At 2,319 MUs, the total volume cleared in the month was almost 11 per cent lesser than the 2,616 MUs cleared in the previous month. Further, the open access related restrictions in a few States partly contributed to lower quantum traded this month. Almost 223 MUs were curtailed last month due to unavailability of inter-regional transmission corridor. The southern States, particularly Tamil Nadu and Kerala, were the worst affected as power flow into the southern region continued to be constrained.
The Market Clearing Price (MCP) saw wide variation from Rs 3 per unit to Rs 4.5 per unit. With average MCP at Rs 3.76 per unit, the market remained an attractive option for buyers compared to the previous month when the price was almost Rs 3.9 per unit.
With reduction in demand of electricity across States owing to the rains, area prices fell across all the States except in the southern States where the prices instead increased by about 6-7 per cent, largely due to unavailability of transmission corridor. The average Area Clearing Price (ACP) in North, North East, East, West in JulyÆ14 were Rs 3.35 per unit, Rs 3.38 per unit, Rs 3.35 per unit and Rs 3.22 per unit, respectively.
A total of around 2.3 BUs were traded in July´14 in the Spot Market on the Exchange(See table below).
The flow of power from eastern to southern States remained constrained 85.2 per cent of time through the month.
The flow of power from western to southern States remained constrained 90.2 per cent time through the month.
In the southern region, S1 (Andhra Pradesh, Telangana and Karnataka) - S2 (Tamil Nadu and Kerala) corridor was congested 26.3 per cent of the time through the month.
On an average 770 participants traded in the power spot market in July on a daily basis. The highest participation was on 4 July, when 845 participants traded in the spot market.
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