Heavy rains drops power prices to Rs 3.34 per unit in August
The average spot power price dipped 3.51 percent to Rs 3.34 per unit in August compared to July this year due to weak electricity demand after heavy rains, the Indian Energy Exchange said Monday.
"The average market clearing price (MCP) at Rs 3.34 per unit registered 3.51 percent decline MoM (month on month) basis (August 2018 vs July 2018) and 6.81 percent increase YoY (year on year, August 2018 Vs August 2017) basis," the exchange (IEX) said in a statement.
Heavy monsoon rains in various parts of the country affected the demand for power as well as prices discovered in the market.
The DAM (day ahead market) traded 3,975 MU (million units) in August registering a decline of 1.31 percent over 4,028 MU MoM basis and almost at par with 3,982 MU traded year on year (YoY) basis.
The day-ahead market experienced minor transmission congestion for 1 percent of the total time during the month mainly in the import of power to the northern region. On the daily average basis, 654 participants traded in the DAM during the month.
The Term-Ahead Market traded 87 MU in August 2018 registering a decline of 28 percent MoM basis and 26 percent decline YoY basis.
The electricity market at IEX Day-ahead Market (DAM) and Term-ahead Market (TAM) combined traded 4,061 MU in August 2018 vis-a-vis 4,149 MU traded last month and 4,098 MU traded the same month last year.