Heavy rains drag down spot power price by 3.51pc at IEX in Aug

The average spot power price dipped 3.51 per cent to Rs 3.34 per unit in August compared to July this year due to weak electricity demand after heavy rains, the Indian Energy Exchange said Monday.

"The average market clearing price (MCP) at Rs 3.34 per unit registered 3.51 per cent decline MoM (month on month) basis (August 2018 vs July 2018) and 6.81 per cent increase YoY (year on year, August 2018 Vs August 2017) basis," the exchange (IEX) said in a statement.

Heavy monsoon rains in various parts of the country affected the demand for power as well as prices discovered in the market.

The DAM (day ahead market) traded 3,975 MU (million units) in August registering a decline of 1.31 per cent over 4,028 MU MoM basis and almost at par with 3,982 MU traded year on year (YoY) basis.

On a daily average basis, about 128 MU were traded during the month with average daily sell bids at 237 MU and average daily buy bids at 158 MU at IEX. One Nation, One Price was realised for 27 days.

The day-ahead market experienced minor transmission congestion for 1 per cent of total time during the month mainly in the import of power to northern region. On daily average basis 654 participants traded in the DAM during the month.

The Term-Ahead Market traded 87 MU in August 2018 registering a decline of 28 per cent MoM basis and 26 per cent decline YoY basis.

The all India peak demand touched 170 GW on August 10 registering 1 per cent decline month on month (MoM) basis as per the NLDC statistics.

The electricity market at IEX Day-ahead Market (DAM) and Term-ahead Market (TAM) combined traded 4,061 MU in August 2018 vis-a-vis 4,149 MU traded last month and 4,098 MU traded same month last year.