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Trading on Indian Energy Exchange Ltd’s electricity market fell 6.6 per cent from the previous month to 7.7 billion units during April, the firm said on Thursday.
“There has been a correction in demand from southern and western States such as Maharashtra, Gujarat, and Telangana since April 20. Agricultural demand from Telangana fell sharply,” an IEX spokesperson said. “These States had been participating in the market heavily till March.”
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With the second wave of Covid raging, the State governments in Maharashtra and Delhi had also ordered lockdowns in the second half of April.
Trading on IEX’s day-ahead market fell 13 per cent from March to 5.7 billion units in April, the firm said in a statement. Compared to the diminished base of April last year, when the country was under a national lockdown, the volume traded in April grew 54 per cent.
The average monthly price rose 53 per cent on a year-on-year basis to 3.70 per unit, the statement said.
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“The increase in price was primarily due to increase in demand and sharp slump in electricity prices in April 2020 due to a stringent nationwide lockdown,” it added.
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