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Power traded at the spot market increased last month to 2.5 billion units (BUs) due to high demand amidst weak monsoon and fuel shortages.
“The electricity traded in the spot market at Indian Energy Exchange (IEX) increased in August to 2.5 BUs, almost 8 per cent higher than 2.3 BUs traded in the previous month and 7 per cent higher over 2.3 BUs traded in the same month last year,” IEX said in a statement.
As regards the demand and supply of power, the spot market received purchase bids worth 4.72 BUs while the sell bids were only 3.01 BUs, clearly indicating that demand surpassed supply this month, the statement said.
An average of 80 MUs was traded on a daily basis, an 8 per cent increase over 74 MUs traded last month.
The average market clearing price (MCP) for the month went up to Rs 4.49 per unit, up by 19 per cent from Rs 3.76 per unit in July 2014.
The increase in demand and the consequent rise in price of power could be attributed to a couple of reasons such as scanty rainfall and consequent reduction in hydro generation, coal and gas shortages and increase of agricultural load in some states.
The inter—state transmission congestion was also lower over last month as about 200 MUs could not be traded this month as compared to 223 MUs lost in July.
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