In April 2018, the spot power price was ₹3.98 (~$0.0594)/kWh, ₹1.21 (~$0.0180)/kWh more than the ₹2.77 (~$0.0413)/kWh recorded in April 2017, an increase of approximately 44 percent. The key reasons for high prices were an increase in demand associated with seasonal variation and inadequate availability of coal for the thermal generators.
Mercom previously reported that the average spot power price recorded in March 2018 was also up by approximately 57 percent when compared to the price recorded in March 2017. In April 2018, the Day-Ahead Market (DAM) at Indian Energy Exchange (IEX) followed the trend set in March 2018. The DAM saw trade of 4,055 million units (MUs), an increase of about 2.53 percent from 3,955 MUs traded in March 2018, and an approximate 9 percent increase over 3,717 MUs traded in April 2017.
On an average daily basis, about 135 MUs were traded in April 2018, while the average daily sell and buy bids were 184 MUs and 170 MUs respectively.
According to the Indian Energy Exchange (IEX), “One Nation, One Price” was realized for 22 days during the month, compared to 27 days in March 2018. In April 2018, seven solar generators with size varying from 3-100 MW sold 6.14 MUs in the DAM on the IEX. On daily average basis, 728 participants traded in the DAM.”
The term-ahead market (TAM) traded nearly 124 MUs in April 2018, mainly in the intra-day and day ahead contingency market segments.
Compared to April 2017, in which TAM could trade only 57 MUs, this time the recorded numbers witnessed a huge jump. However, compared to March 2018, in which TAM traded 138 MUs, April 2018 proved to be slightly sluggish.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.