The Day-Ahead power market at IEX witnessed the highest ever trade of about 172 MU on 1st August’17, which was the key highlight of the month.
The market prices converged all over India for all hours in a day on 17 days in the month of August.
With the increase in demand for power primarily from southern states, a total volume of 3982 MU was cleared, which is 8.5% above 3669 MU traded in July ’17 and 15.5% higher than August’16. On a daily average basis over 128 MU was traded. Average daily sell bids of 198 MU were received against buy bids of 163 MU per day.
The Market Clearing Price (MCP) at Rs. 3.13 per unit was 26% higher from price in July’17 (Rs. 2.49 per unit) and 44% higher than August’16 (Rs 2.17 per unit). The average MCP during the day (08:00 to 18:00 Hrs) was Rs. 2.77 per unit, during the night (01-06 Hrs and 24 Hrs) was Rs 2.74 per unit while during the evening peak (19:00 to 23:00 Hrs) the average MCP was Rs 4.41 per unit.
The market saw considerable increase in inter-state transmission congestion mainly on account of import of power by Southern States which were constrained about 11% of the time. Overall 102 MU were lost due to congestion and daily average volume loss was 3 MU vis-a-vis to overall volume loss of 51 MU and daily average loss of 2 MU in July.
Market Prices (ACP):
The average daily Area Clearing Price (ACP), the price at which settlement takes place, varied from Rs 1.82 per unit to
Rs 4.89 per unit across the bid areas. The ACP across the regions was as below:
North: Rs. 3.08 per unit
South: Rs. 3.27 per unit
Rest of India: Rs. 3.07 per unit
1 MU = 1 Million kWh (GWh) ** 1 BU = 1 Billion kWh (TWh)
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