Spot power price up 16% on IEX in Feb
Average spot power price was Rs. 2.91 per unit in DAM at IEX in Feb 2020
New Delhi: Average spot power price at Indian Energy Exchange (IEX) rose over 16 per cent to Rs 3.39 per unit in February in the day ahead market (DAM), over the same month a year ago.
"The day-ahead market (DAM) traded 5,124 MU (million units) volume and saw a notable 19.5 per cent Y-o-Y growth in February'21. The cumulative sell bids at 8,535 MU were 1.7 times of cleared volume indicating ample availability of power in the market," an IEX statement said.
The average monthly price at Rs 3.39 per unit during the month saw 16 per cent year-on-year increase driven by a sharp increase in demand by several states. The average spot power price was Rs 2.91 per unit in DAM at IEX in February 2020. The term-ahead market (TAM) comprising intra-day, contingency, daily and weekly contracts traded 432 MU volume during February'21 recording a significant 90.84 per cent year on year (YoY) increase. The real-time market (RTM) traded 1,118.45 MU volume in February'21.
The market crossed 1BU+ volume milestone for the third consecutive month. The sellside bids at 2X of the cleared volume indicate good availability of power in the market, it said. The market discovered an average price at Rs 3.31 per unit and saw daily average participation from about 323 participants during the month, it added. The RTM has been supporting utilities and open access consumers in balancing the realtime demand, with delivery of power at just a 1.5 hour notice. Since its launch on June 1, 2020, the RTM has cumulatively traded 8054 MU.
The Green Term Ahead Market (GTAM) traded a volume of 93.72 MU during the month comprising 37.5 MU in solar segment and 56 MU in non-solar segment. The distribution utilities, renewable generators, and open access consumers leverage the green market to buy-sell green energy besides also fulfilling the Renewable Purchase Obligation (RPO) targets.
A total of 25 participants participated during the month with distribution utilities from Haryana, Bihar, Uttar Pradesh, West Bengal, New Delhi, Karnataka, Telangana, and Maharashtra among others, as the key participants. The GTAM has cumulatively traded 735 MU since its launch on August 21, 2020. The electricity market at IEX trades 6,769 MU in February and registered 50 per cent Y-o-Y growth in the month. It stated that the national peak demand at 188 GW registered 2.17 per cent YoY growth while the average daily electricity consumption increased 3.31 per cent Y-o-Y in February 2021 as per the National Load Dispatch Centre data.