It added that this consequently led to an attractive average market clearing price of Rs 2.83 per unit which saw a 3 per cent y-o-y decline
New Delhi: Average spot power price fell 3 per cent year-on-year to Rs 2.83 per unit in December 2020, compared to the year-ago month, the Indian Energy Exchange (IEX) said Tuesday. With trading of 5,606 million units (MU) of electricity, the volume in the day-ahead market (DAM) rose 29 per cent on a year-on-year (y-o-y) basis, it said.
“The DAM traded 5,606 MU of electricity and registered 29 per cent y-o-y growth during the month. The total sell bids at 10,814 MU were almost twice that of the cleared volume, implying ample availability of the power in the market,” the exchange said.
It added that this consequently led to an attractive average market clearing price of Rs 2.83 per unit which saw a 3 per cent y-o-y decline.
The ‘One Nation-One Price’ prevailed for 31 days during the month. The inter-state congestion for the remaining days was on account of import of power to southern states.
The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 436 MU volume during December 2020.
According to the data published by the National Load Dispatch Center (NLDC), the national peak demand in December 2020 saw a 7 per cent y-o-y increase while the energy consumption registered 5 per cent y-o-y growth.
On December 30, when peak demand touched 182.9 gigawatts (GW), IEX electricity markets contributed to a significant 6.9 per cent of the peak demand met.
“The REC (renewable energy certificate) trading session, which was scheduled on December 30, 2020, could not take place due to the stay order from APTEL (Appellate Tribunal for Electricity),”
The order was in response to the petitions filed by a few renewable energy associations against the Central Electricity Regulatory Commission order dated June 2020, regarding revision in the floor and forbearance prices of REC.
Source: PTI
