Press Release

Continuing the trend from last month, the IEX spot power market traded at average Market Clearing Price (MCP) of Rs 2.17 per unit in August, 2016. The average Area Clearing Price (ACP) varied from Rs. 2.1 per unit to Rs. 2.4 per unit, following the prices in last month.

In August, the Spot Power Market set a new record of highest ever daily trade of 143 MUs on 26th August, 2016. On an average, 111 MUs were traded on a daily basis and a total of 3,445 MUs were traded in the month. Average daily sell bids were 8,904 MW and average daily buy bids were 5,518 MW.

Last month, average daily purchase bids of 5,360 MW and sell bids of 9,061 MW were received. As regards transmission congestion in the Inter-State corridors, import of power in Punjab and Southern States remained affected. About 4 MUs were lost due to congestion on a daily average basis.

On 30th and 31st August, 2016, the market cleared at single-price achieving the aspiration of One Nation, One Grid and One Price.

Prices:
The average Area Clearing Prices across States remained at par with the ACP in last month:
• ACP in North-East, East and West: Rs 2.1 per unit
• ACP in North: Rs 2.13 per unit
• ACP in South: Rs 2.4 per unit

The graphical depiction of average ACP in August is as below:

Volumes:
The key highlights for August’16 are as below:

• Total Sell bids: 6,625 MUs
• Total buy bids: 4,105 MUs
• Total Cleared Volume: 3,445 MUs
• Southern States: Net Sellers
• Northern, Western, Eastern & North-Eastern States: Net Buyers

The table below gives the average daily buy-sell picture at regional level for August’16 vis-à-vis July’16:

Congestion:
About 118 MUs were lost due to transmission congestion in August, as compared to 68 MUs lost in the previous month.
• ER->SR and WR->SR interconnections were congested 34% of the time during the month.
• ER->NR and WR->NR interconnections remained congested 7% of the time during the month.

Participation:
1,267 participants traded in the spot market on an average daily basis. The highest participation was on 9 August, 2016 when 1,380 participants traded on the Exchange.

Term-Ahead Market:
About 35 MUs were scheduled in August’16 in Intraday, Daily and Day Ahead Contingency contracts which includes participation from Industrial consumer in the market.