The average spot power price recorded in March 2018 shot up by approximately 57 percent when compared to the price recorded in the same month last year.
The increase in spot market price was largely because of increase in demand associated with seasonal variation and inadequate availability of coal with the thermal generators.
While the spot power price recorded in March 2018 was ₹4.02 (~$0.061)/kWh, the price recorded in March 2017 stood at ₹2.56 (~$0.039)/kWh. This was an increase of ₹1.46 (~$0.022)/kWh or 57 percent year over year.
In March 2018, the Day-Ahead Market (DAM) at Indian Energy Exchange (IEX) witnessed a trade of 3,955 million units (MUs), an increase of about 19 percent from 3,326 MUs traded in February 2018 and about 18 percent increase over 3,364 MUs traded in March 2017.
On a daily average basis, about 128 MUs were traded while the average daily sell and buy bids were 174 MUs and 172 MUs respectively. In March 2018, six solar generators with size varying from 3-100 MW sold 25.4 MUs in DAM on the IEX.
On daily average basis, 762 participants traded in the DAM in March 2018. One Nation, One Price was realized for 27 days in March 2018 while it was 24 days in the previous month and the market did not experience any inter-state transmission congestion for 91 percent of time during the month.
The Term-Ahead Market (TAM) traded 138 MUs in March 2018, mainly in the intra-day and day ahead contingency market segments. The TAM traded 17 MUs in February 2018 and 66 MUs in March 2017. In fiscal 2017-18, the TAM on Exchange traded 1,372 MUs while it was 744 MUs in previous fiscal registering Year over Year (YoY) growth of 84 percent.
Mercom previously reported the average spot power price recorded in February 2018 shot up by approximately 27 percent when compared to the price recorded in February 2017.
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.