Press Release

The spot power market at IEX saw trade of 3,078 MUs in March’16, an increase of about 9% from 2,818 MUs traded in February. On a daily average basis, over 99 MUs were traded, up from 97 MUs in the previous month. During the month, average daily sell bids of 6,844 MW were received, down by about 11% over the previous month while purchase bids were 5,398 MW, down by about 14% over the previous month.

The average Market Clearing Price (MCP) for the month was Rs. 2.61 per unit, about 13% more than Rs. 2.30 per unit last month. Congestion in the Inter-State transmission corridor affected prices discovered on the Exchange. In Northern States, price was Rs. 2.60 per unit, almost same as last month. While, impact of congestion was severe in Southern States since price shot up by 42% to Rs. 3.55 per unit from Rs. 2.51 per unit in the previous month.

During the month, about 276 MUs were curtailed due to Inter State Transmission congestion, up by
146% over 112 MUs curtailed in February. The ER->SR and WR->SR interconnections were congested about 70% of the time during the month and ER->NR and WR->NR interconnections were congested 30% of the time.

Market in FY 2015-16: Overall in fiscal year 2015-16, spot power market remained vibrant with over 34 BUs traded, 21% over 28 BUs traded in previous fiscal. The average MCP for this fiscal was at Rs. 2.73 per unit, 22% less than MCP of Rs. 3.51/unit in FY’15. Congestion in the Inter State Transmission corridor led to a loss of 2.1 BUs in fiscal 2016 while in previous fiscal it was 3.1 BUs.

Prices (ACP):
Average Area Clearing Price (ACP) during the month across the regions were as below:
• In North-East, East and West, ACP was Rs 2.40 per unit, about 14% up from Feb.
• In North, ACP was to Rs. 2.60 per unit, 1% down from Feb.
• In South, ACP was Rs 3.55 per unit, 42% up from Feb.

Volumes:
A few key highlights for March’16 are as given below:
• Total Sell bids – 5,092 MUs
• Total buy bids – 4,016 MUs
• Total Cleared Volume – 3,078 MUs

The Northern and Southern States were Net Buyers while the Eastern, Western and North-Eastern States were Net Sellers.

The table below gives the Average Daily Buy-Sell Picture at regional level for March’16 vis-à-vis February’16:

Participation:
1,067 participants traded in the spot market on an average daily basis. The highest participation was on 3 March, 2016 when 1,188 participants traded on the Exchange.

Term-Ahead Market:
About 29 MUs were scheduled during the month, mainly in the Intra-day and Day Ahead Contingency segments.