The average spot power price rose 11 per cent to Rs 3.18 per unit in the day ahead market on the Indian Energy Exchange (IEX) in January from Rs 2.86 per unit in the same month last year. The day ahead market (DAM) traded 5,584 MU (million unit) and saw a notable 17 per cent YoY (year-on-year) growth last month, an IEX statement said.
The market registered ample availability of power with the total sell bids at 10,074 MU being almost two times of the cleared volume.
The electricity market at IEX also achieved a new milestone in January 2021 with an all-time high total volume of 7,434 MU , a significant 47 per cent YoY growth.
One Nation One Price prevailed during all 31 days of the month. The distribution utilities and the open access consumers continue to leverage the exchange market to source competitively priced power as industry and economy gear up for revival post-COVID-19, it added.
IEX said quoting the National Load Dispatch Center data, that the national peak demand touched nearly 190 GW on January 30, 2021 seeing 11 per cent YoY growth while the energy consumption grew 4.7 per cent YoY during the month.
The term-ahead market (TAM) comprising intra-day, contingency, daily and weekly contracts traded 524 MU volume last month, recording a significant 93 per cent YoY increase.