Spot power prices down 21%: IEX
The southern distribution utilities continued preference for TAM contracts.
By Sarita C Singh, ET Bureau |
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NEW DELHI: Electricity prices in spot market declined by 21% in March even as there was a 18% surge in trade volume. The decline in demand is on account of low demand for electricity amid a countrywide lockdown to prevent spread of coronavirus.
In March 2020, the electricity market at India Energy Exchange saw a trade of 4,291 million units- the Day-Ahead Market (DAM) traded 3,971 MU during the month and saw 18% YoY growth while the Term Ahead Market (TAM)
traded 320 MU and recorded 30% YoY growth, an official statement said.
The southern distribution utilities continued preference for TAM contracts.
The total sell bids in day-ahead market were 12,207 MU and the buy bids at 4,545 MU. The sell-bids being over 2.5 times the buy bids imply surplus power availability on the platform, it said.
"The average market clearing price in DAM at Rs 2.46 per unit saw a decline of 21% this month over the price of Rs. 3.12 per unit in March 2019, offering the distribution utilities and discoms a compelling opportunity to reduce their financial burden," IEX statement said.
According to the NLDC data, on an all India basis, the peak demand was at 170 GW in March 2020 over 169 GW in March 2019 growing by a marginal 1%.
On March 26, the renewable energy certificate trading session at IEX saw a total trade of 5.20 lakh Renewable Energy Certificates comprising of 4,80,379 Non-Solar RECs and 39,299 Solar RECs.
The price for Solar RECs at Rs 2400 per REC continued to be at the ceiling price prescribed by the CERC. The price has been at ceiling since October 2019. The price for non-Solar RECs (issued after April 1, 2017) at Rs 1,000
decreased 44% from Rs 1,800 in February 2020.
In March 2020, the electricity market at India Energy Exchange saw a trade of 4,291 million units- the Day-Ahead Market (DAM) traded 3,971 MU during the month and saw 18% YoY growth while the Term Ahead Market (TAM)
traded 320 MU and recorded 30% YoY growth, an official statement said.
The southern distribution utilities continued preference for TAM contracts.
The total sell bids in day-ahead market were 12,207 MU and the buy bids at 4,545 MU. The sell-bids being over 2.5 times the buy bids imply surplus power availability on the platform, it said.
"The average market clearing price in DAM at Rs 2.46 per unit saw a decline of 21% this month over the price of Rs. 3.12 per unit in March 2019, offering the distribution utilities and discoms a compelling opportunity to reduce their financial burden," IEX statement said.
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One Nation One Price prevailed for 24 days during the month.According to the NLDC data, on an all India basis, the peak demand was at 170 GW in March 2020 over 169 GW in March 2019 growing by a marginal 1%.
On March 26, the renewable energy certificate trading session at IEX saw a total trade of 5.20 lakh Renewable Energy Certificates comprising of 4,80,379 Non-Solar RECs and 39,299 Solar RECs.
The price for Solar RECs at Rs 2400 per REC continued to be at the ceiling price prescribed by the CERC. The price has been at ceiling since October 2019. The price for non-Solar RECs (issued after April 1, 2017) at Rs 1,000
decreased 44% from Rs 1,800 in February 2020.
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