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Average spot power price up 9pc at Rs 3.2/unit on IEX

Average spot power price up 9pc at Rs 3.2/unit on IEX

New Delhi, Feb 1 (PTI)Average spot power price at Indian Energy Exchange (IEX) rose by 9 per cent in January to Rs 3.2 per unit due to higher demand, coal price and rail freight charges.

"The average Market Clearing Price (MCP) discovered in the day-ahead market was at Rs 3.20 per unit, about 9 per cent higher than the price in December 2017 which was Rs 3 per unit and 28 per cent above Rs 2.50 per unit same month last year (January 2017)," an IEX statement said.

The increase in price in January was due to increase in demand, increase in coal prices and railway freight.

It said that the Day-Ahead market at IEX traded 3,375 MU (million units) in January 2018, which is about 9 per cent higher than the 3,108 MU traded last month and almost 4 per cent more than 3,231 MU traded in January 2017.

On a daily average basis about 109 MU were traded. The average daily sell and buy bids were 214 MU and 144 MU respectively. The total sell bids during the month were 6,642 MU and the total buy bids were 4,450 MU, it added.

The Renewable Energy Certificate (REC) market, which trades on last Wednesday of every month, saw the trade of 1.82 lakh Non-Solar RECs traded at the floor price in the trading session held on January 31, 2018.

A total of 2,13,039 ESCerts (energy saving certificates) were traded in the month of January with price ranging between Rs 450 per ESCerts and Rs 501 per ESCert. The market saw trade of 8,41,052 ESCerts in December 2017. PTI KKS BJ