Average spot power price dips 4 pc to Rs 3.08/unit in Feb

Average spot power price slipped 4 per cent to Rs 3.08 per unit in February at Indian Energy Exchange (IEX), compared to Rs 3.23 a year ago, mainly on subdued demand following extended winters.

"The average Market Clearing Price (MCP) at Rs 3.08 per unit registered 4 per cent decline over Rs 3.23 per unit in same month last year," an IEX statement said.

Lower DAM (day ahead market) volume of 2,794 MU (million units) in February was primarily due to extended winters and thus subdued demand for power from northern and western states, as per the statement.

In 2018-19 (April-Feb19), the IEX has traded 46,707 MU over 40,887 traded in the same period last year, registering an increase of 14 per cent. On a daily average basis in February 2019, about 100 MU were traded.

The day-ahead market experienced transmission congestion with volume loss of 62 MU, representing 2 per cent of the total traded volume. The congestion was mainly due to shutdown of Talcher Kolar Pole line leading to unavailability of transmission corridor, and thus increase in the market clearing price.

One Nation, one price was realised only for 4 days during the month, primarily due to constraints in southern import. On daily average basis, 722 participants traded in the market during the month, the IEX added.

The Term-Ahead Market (TAM) traded 84 MU in February 2019, registering an increase of 67 MU over same month last year.

The IEX said that all India peak demand touched 162 GW on February 5, 2019, 3 per cent increase over highest peak demand of 157 GW during February 2018 as per NLDC (National Load Dispatch Centre) reports.

On all India basis, the energy supplied in February, 2019 at 95 BU registered marginal increase of 3 per cent from 92 BU last year.

The electricity market at IEX the Day Ahead- Market (DAM) and Term Ahead-Market (TAM) combined traded 2,879 MU in February 2019, a decline of 15 per cent over 3,343 MU traded in February 2018.

The Renewable Energy Certificates (REC) trading session held on Wednesday, 27 February, 2019 featured a total trade of 10,59,300 RECs, comprising of 6,75,592 Non-Solar RECs and 3,83,708 Solar RECs.

The trade saw an increase of about 172 per cent year on year (y-o-y) basis and 64 per cent M-o-M (month-on-month) basis. The distribution companies were the major buyers in February 2019. The REC trading session followed by captive users and open access consumers.

Both non-solar and solar REC continued to see low supply situation with buy bids exceeding the sell bids. The price for both non-solar (issued after April 1, 2017) and solar of Rs 1,395 per REC and Rs 1,500 per REC, saw a decline of 7 per cent and 14 per cent, respectively on m-o-m basis.

In 2018-19 (year to date), IEX has cumulatively traded 80,21,412 units over 72,49,454 traded in the same period last year, registering an increase of about 11 per cent, the IEX added.