Average spot power price falls 22% in March

New Delhi: Average spot power price fell 22 per cent at Rs 3.12 per unit in March at Indian Energy Exchange (IEX) compared to Rs 4.02 per unit in the same month last year due to lower demand.

The total traded volume in Day Ahead Market (DAM) last month declined 15 per cent to 3,356 million units (MU) as against 3,955 MU in March 2018, according to an IEX statement. The Term-Ahead Market (TAM) traded 246.34 MU in the reported month, registering a surge of 78 per cent over 138 MU traded in March 2018.

However, the traded volume in DAM in March was up 20 per cent from 2,794 MU in February 2019.

"The average Market Clearing Price (MCP) at Rs 3.12 per unit registered 22 per cent decline over Rs 4.02 per unit in March 2018 and at par with Rs 3.08 per unit in February 2019," the statement said.

According to the statement, DAM experienced transmission congestion mainly towards import of power by southern states which led to volume loss of 120 MU representing 3 per cent of the total traded volume on the exchange.

All India peak demand touched 169 GW on March 29, 2019, registering 5 per cent increase over highest peak demand of 160 GW registered in March 2018.