Spot power rate dips over 5 pc to Rs 2.32/unit in Nov

The average spot price of power in November dropped by 5.7 per cent to Rs 2.32 per unit at Indian Energy Exchange (IEX) in November compared to the rate in October this year.
"The average Market Clearing Price (MCP) was Rs 2.32 per unit, 5.7 per cent decline over last month (October) and 13 per cent decline over the same month last year," IEX said in a statement.
According to statement, the average area clearing price (ACP) the price at which settlement takes place, varied from Rs 1.94 per unit to Rs 3.30 per unit.
It said that even with the weather variations like winters setting in the North and cyclonic rains affecting the South the Day-Ahead Market at IEX traded 3,401 million units (MUs) in November, maintaining its momentum with 113 MUs traded on a daily average basis.

According to exchange the market remained buyer friendly with the average daily purchase bid of 132 MUs and average daily sell bid of 245 MUs. The Open access consumers were key buyers in the market followed by distribution companies.
Due to congestion on the Inter-State Transmission Corridor, five MUs were lost on an average daily basis, the IEX said adding that the Southern import was congested about 58 per cent of the time mainly due to increased demand in the region and limited availability of the corridor.
The Northern import was congested 10 per cent of the time during the month.

As many as 1,191 participants traded in the spot market on an average daily basis. The highest participation was on November 9, 2016 when 1,289 participants traded on the Exchange, it added.