The onset of winters set the context of the spot market at IEX in December´14. Despite the cold wave, the overall demand for electricity increased just marginally. Western and Eastern States saw demand reduction by 29 per cent and 51 per cent respectively.
The total quantum traded in December was 2.2 BUs (Billion kWh) reflecting an increase of about 3 per cent over 2.1 BUs traded in the previous month. Although in terms of bids received, the intent to purchase was there, however, due to price sensitivity the intent did not culminate into trade. The exchange received purchase bids worth 3.18 BUs, an increase of 334 MUs compared to last month while sale bids were 3.52 BUs, similar to the sale bids recorded last month.
Given the above demand-supply dynamics, the average market clearing price (MCP) for December was Rs. 3.21 per unit, almost 7 per cent increase from Rs 3 per unit in November. As regards to congestion on the Inter-state transmission network, about 145 MUs could not be traded due to unavailability of transmission corridor as compared to 179 MUs in November. On an average, 882 participants traded in the day ahead spot market at IEX in the month of December.
The average Area Clearing Prices (ACP) rose across all the States by approximately 8-12 per cent except for the Southern States (S1 and S2) where the prices fell by 9 per cent (S1: AP and KN) and 19 per cent (S2: TN and KR) respectively largely owing to the greater availability of Inter-state transmission corridor. The average Area Clearing Price (ACP) in North, North-East and East was around Rs 2.96 per unit, whereas, in the West and the State of Punjab the ACP was about Rs 2.78 per unit.
On an average 882 participants traded in the power spot market in December on a daily basis. The highest participation was on 13 December, when 934 participants traded in the spot market.
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