New Delhi, 7 October 2014: The electricity traded on the Spot Market at India’s premier power exchange, IEX, touched a record on Monday, 6 October, 2014 with the highest ever volume traded at 125 MUs for delivery on 7 October, 2014. This achievement surpasses the last highest traded volume of 117 MUs which was traded on 8 September, 2013.
Of the total traded volume of 125 MUs, Distribution Companies (Discoms) accounted for over 90% – The Discoms in Western and Northern regions were among the top buyers accounting for almost 60% of the total cleared volume, largely due to increased demand for power during the festive celebrations.
With Buy Bids of about 197 MUs and Sell Bids of about 131 MUs, the spot market clearly saw increased demand and limited supply with the Market Clearing Price (MCP) at Rs. 5.29 per unit, 23% higher than MCP of Rs 4.29 on the previous day.
The Inter-State transmission congestion was limited which led to the splitting of the market only in Southern States (Tamil Nadu, Kerala, Karnataka and Andhra Pradesh) and Chhattisgarh. Consequently, the high demand region of South saw an increase in the price with average area clearing price at Rs. 7.46 per unit, whereas in Chhattisgarh, which has high concentration of generators, the price dropped with average area clearing price at Rs. 4.42 per unit. As on date, the spot power market on the Exchange trades more than 80 MUs of electricity on a
daily average basis.