Moneycontrol

The average selling price of power in March rose 13 percent to Rs 2.60 per unit at the Indian Energy Exchange compared to record low of Rs 2.30 last month.

"The average Market Clearing Price (MCP) for the month was Rs 2.61 per unit, about 13 percent more than Rs 2.30 per unit last month," IEX said in a statement.

Congestion in Inter-State transmission corridor affected prices discovered on the Exchange, it added.

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 percent to Rs 3.55 per unit from Rs. 2.51 per unit in the previous month, it said.

In March, about 276 million units (MUs) were curtailed due to inter-state transmission congestion, up by 146 percent over 112 MUs curtailed in February 2016, the power trading platform said.

The spot power market at IEX saw trade of 3,078 MUs in March 2016, an increase of about 9 percent 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 percent over the previous month while purchase bids were 5,398 MW, down by about 14 percent over the previous month.

Overall in 2015-16 fiscal, spot power market remained vibrant with over 34 billion units (BUs) traded, 21 percent over 28 BUs traded in previous fiscal.

The average MCP for this fiscal was at Rs. 2.73 per unit, 22 percent less than MCP of Rs 3.51/unit in 2014-15.

Congestion in the inter-state transmission corridor led to a loss of 2.1 BUs in fiscal 2015-16 while in previous fiscal it was 3.1 BUs, IEX said.