Spot power rises 66% to Rs 4.08/unit on IEX in October

Indian Energy Exchange (IEX) today said the average spot power price rose by 66 per cent to Rs 4.08 per unit in October compared to the year-ago period, mainly due to supply side constraints.
The average Market Clearing Price (MCP) for the month at Rs 4.08 per unit was almost same as in September, 2017 and 66 per cent higher over Rs 2.46 per unit in October, 2016, the IEX said in a statement.
According to the statement, a total volume of 4,079 MU (million unit) was cleared, almost same as trade volume of September and about 13 per cent more over 3,609 MU traded in October, 2016. On a daily average basis about 132 MU were traded.

With average daily sell bids at 169 MU against buy bids at 179 MU, the market largely remained a deficit market. The total sell bids during the month were 5,248 MU and the total buy bids were 5,535 MU.
The spot power price reflected the demand-supply dynamics in the market and the supply side saw several constraints namely coal shortages, reduced hydro and wind generation affecting the market, it said.
The price of the power remained on the higher side through the month due to buy bids exceeding sell bids as well as supply side constraints, it added.

The average daily market clearing price varied from Rs 2.82 per unit to Rs 5.62 through the month.

It said as many as 789 participants traded in the spot market on an average daily basis.
The term-ahead market (TAM) saw the highest ever trade of 290 MU in the month, mainly in the intra-day, Day Ahead Contingency and Daily market segments.
The TAM saw trade of 153 MU in September 2017 and 266 MU in October 2016.