The Day-ahead Power Market trades all-time high record volume of 268.3 MU at average price of Rs. 4.93 per unit
Deepthi | Myequity news | Date : 25-09-2018 15:50:00 IST
The IEX day-ahead power market has achieved all time high record trade of 268.3 MU for delivery on Tuesday, 25th September, 2018.
For the first time over more than the last ten years since commencement of the operations of the Exchange, the maximum sell bid in a 15 minute time block touched as high as 15,358 MW while the purchase bid touched 16,131 MW and the cleared volume reached as high as 12,268 MW.
The average Market Clearing Price (MCP) discovered was Rs. 4.93 per unit while the average MCP during different time-periods for the trade day was:
Morning (07:00 to 10:00 Hrs) Rs. 4.03 per unit
Day (11:00 to 17:00 Hrs) Rs. 4.50 per unit
Evening peak (18:00 to 23:00 Hrs) Rs. 7.64 per unit
Night (01-06 Hrs and 24 Hrs) Rs. 3.55 per unit
This new high trade benchmark has been achieved in wake of surge in demand for electricity in the Eastern, Southern and Western States mainly due to inadequate supply of coal and, decrease in wind power generation.
The Northern States such as Delhi, Haryana, Punjab, and Rajasthan who have been receiving good rainfall over the last three days were the key sellers in the market.
The prevailing peak demand in the system has been about 150 GW.
The present day-ahead market clearly demonstrate the ample liquidity where many of States are buying and selling upto 2500 MW of power during certain times of the day and stakeholders are making most of efficient and competitive Exchange platform.
The previous high volume traded in the day-ahead market was 215.31 MU for delivery on 11 September, 2018. ABOUT IEX:
IEX is the first and largest power exchange in India. Providing an automated trading platform for physical delivery of electricity, IEX enables efficient price discovery and offers participants the opportunity to trade in electricity contracts, Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates).