Spot power price remains flat at Rs 2.17 at IEX in Aug

The average spot power price remained flat at Rs 2.17 per unit at Indian Energy Exchange in August compared to that of previous month.
The average clearing price during July was Rs 2.16 per unit at the exchange.
"Continuing the trend from July, the IEX spot power market traded at average Market Clearing Price (MCP) of Rs 2.17 per unit in August, 2016. The average Area Clearing Price (ACP) varied from Rs 2.1 per unit to Rs 2.4 per unit, following the prices in the previous month," IEX said in a statement.
According to the statement, the spot power market set a new record of the highest ever daily trade of 143 MUs (million units) on August 26, 2016. On an average, 111 MUs were traded on a daily basis and a total of 3,445 MUs were traded in the month.

It said the average daily sell bids were 8,904 MW and average daily buy bids were 5,518 MW. In July, average daily purchase bids of 5,360 MW and sell bids of 9,061 MW were received.
As regards transmission congestion in the Inter-State corridors, import of power in Punjab and southern states remained affected. About 4 MUs were lost due to congestion on a daily average basis, it said.

On August 30&31, the market cleared at single-price achieving the aspiration of 'One Nation, One Grid and One Price', it added.
It further said about 118 MUs were lost due to transmission congestion in August, as compared to 68 MUs lost in the previous month.

As many as 1,267 participants traded in the spot market on an average daily basis. The highest participation was on August 9 when 1,380 participants traded on the exchange, it added.