Power trade rises 7%, avg price stays at Rs 2.31 at IEX in June

With easing of transmission congestion, average area clearing price, at which settlement takes place, varied from Rs 2.23 to Rs 2.61 across regions

Indian Energy Exchange (IEX) today said that though electricity sales on its platform rose 7 per cent in June, the average power price remained at Rs 2.31 per unit in the month as against Rs 2.32 in May.

"A total of 3,147 MUs (million units) were traded this month (June), an increase of about 7 per cent over 2,929 MUs traded in May 2016, with average daily purchase bids of 5,118 Mw and average daily sell bids of 8,200 Mw. Last month, average daily purchase bids of 4,603 Mw and sell bids of 7,710 Mw were received," IEX said in a release.

Although the volume traded this month increased by 7 per cent, the price continued to be Rs 2.31 per unit, at par with MCP (market clearing price) of Rs 2.32 per unit in May 2016, it said.

With easing of transmission congestion, the average area clearing price (ACP) -- the price at which settlement takes place -- varied from Rs 2.23 to Rs 2.61 across regions during the month. Both northern and southern states saw reduction in ACP over May.

ACP in North India was Rs 2.61 per unit in June, a 4 per cent decline over May. The figure for South was Rs 2.35 per unit, down 15 per cent over May. Similarly, ACP in the North-East, East and West was Rs 2.23, up 8 per cent over May.

IEX said about 3 MUs were lost per day due to congestion. As many as 1,028 participants traded in the spot market on an average daily basis. The highest participation was on June 2, when 1,136 participants traded on the exchange.