India spot power price down 22% in March 2019

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The price of spot power in India registered a decrease this month compared to the same month last year as parts of the country experienced a late start to the summer season.

The average price of power sold via Indian Energy Exchange (IEX) was at Rs 3.12 per unit, decline of 22% over Rs 4.08 per unit in March 2018.

Indian Energy Exchange (IEX) is India’s first and largest power exchange offering participants an automated platform to trade in electricity, Renewable Energy Certificates (RECs) and Energy Saving Certificates.

The spot power is purchased on a ‘day ahead’ basis by utilities and other large customers such as steel plants from the electronic exchange.

Despite the decline in the average price, volumes in the day-ahead market registered a 20% growth in March compared to the same month last year.

The traded volume in March was at 3,356 million units, as compared to the the 2,794 million units last year.

The prices reached their peak during the evening 6 pm to 11 pm

In total, the all India peak demand touched 169 GW on March 29, 2019, about 5% increase over March 18, according to the National Load Dispatch Center.

On a daily average basis, 735 participants traded in the Day-Ahead Market (DAM) during the month, the company said.

A total of 7,16,929 non-solar RECs were traded, while 2,17,231 solar RECs were traded during the month.

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