The increase in demand and the consequent price rise of power could be attributed to scanty rainfall and consequent reduction in hydro generation, coal and gas shortages and increase of agricultural load in some States.
The electricity traded in the spot market at Indian Energy Exchange (IEX) increased in the month of August to 2.5 BUs (billion kWh), almost 8 per cent higher than 2.3 BUs traded in the previous month and 7 per cent higher over 2.3 BUs traded in the same month last year. An average of 80 MUs was traded on a daily basis, again an 8 per cent increase over 74 MUs traded last month.
As regards the demand and supply of power, the spot market received purchase bids worth 4.72 BUs while the sell bids were only 3.01 BUs, clearly indicating that demand surpassed supply this month. Consequently, the average market clearing price (MCP) for the month went up to Rs 4.49 per unit, up by 19 per cent from Rs 3.76 per unit in July´14.
The increase in demand and the consequent rise price of power could be attributed to a couple of reasons i.e. scanty rainfall and consequent reduction in hydro generation, coal and gas shortages and increase of agricultural load in some States. The inter-State transmission congestion was also lower over last month as about 200 MUs could not be traded this month as compared to 223 MUs lost in July.
The Eastern States saw the demand tripling over last month as more than 499 MUs were bought as compared to only 110 MUs last month. The Southern States bought almost 356 MUs of power, 16 per cent more as compared to July. On the sell side - the Western States sold highest amount of power close to 1.12 BUs this month while the North-Eastern States sold almost 108 MUs, almost 57 per cent more over last month.
In North, North-East and East, the average area price was Rs 4.19 per unit, almost 25 per cent higher over July and in West the average area price was Rs 4.16 per unit, 29 per cent higher over July´14. Prices in the South are usually higher over the prices in other States due to persisting transmission constraints. In August, the Southern States saw a slight increase in area prices.
Overall almost 200 MUs could not be traded this month due to inter-State transmission corridor congestion. However, there was no market split for the delivery dates of 28th and 29th August, 2014 for all time-blocks in the day. This was last observed almost three years back on 7 November 2011.
This month 667 participants traded in the spot market on an average daily basis. The highest participation was on 7 August, when 795 participants traded in the spot market.
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