IEX sees 15% jump in power trading volumes in September

The volume of electricity traded at the Indian Energy Exchange (IEX) rose by 15 per cent to 3.2 billion units in September.
Besides, the average spot price of electricity shot up to Rs 3.68 per unit last month from Rs 2.82 per unit in August, indicating rise in demand and consumption of power.
"The spot volumes increased to 3.2 billion units (BUs) in September, the highest ever in a single month. The volume was almost 15 per cent higher over 2.8 BUs traded in August and 26 per cent higher over 2.5 BUs traded in September last year," IEX said in a statement.

An average of 106 million units (MUs) were traded on a daily basis in September while it stood at 89 MUs in August.
In the three months ended September, IEX traded an average of 92 MUs on a daily basis whereas the same was at 86 MUs in April-June quarter.
Similarly, average daily purchase bids of 131 MUs and sell bids of 143 MUs were received in the September quarter while in the preceding three months the purchase and sell bids were 104 MUs and 149 MUs, respectively.

The bourse said that September was the first month of the year when purchase bids were higher than the sale bids.

In September, the average purchase bids touched 162 MUs while sale bids stood at 132 MUs.
The western states significantly increased their sell quantum, while high demand in north coupled with scanty rainfall and increased temperatures led to increase in the buy volume.
The exchange said the Average Market Clearing Price (MCP) for September was Rs 3.68 per unit, while in August the same was at Rs 2.82 per unit.
The incidence of inter-state transmission congestion was lower last month as 147 MUs were lost as compared to 344 MUs lost in August.
As many as 930 participants traded in the Day-Ahead Spot Market on a daily basis in September.