Kolkata: A 34% fall in demand coupled with near 8% rise in supply, pulled down prices at the Indian Energy Exchange by 33% in the last seven days. Average power price settled on Friday, for Saturday deliveries, declined to Rs 2.93 per unit against Rs 4.38 per unit last Saturday.

Demand for power for Saturday deliveries touched 167.51 million units while sell bids touched 285.53 million units. Total volumes scheduled for the day was 142.49 million units.

Unlike on other days, demand for power for every one-hour slot remained less than supply offers, including the evening peak demand slots which starts from 7 pm and goes on till 12 midnight.

For the 7 pm – 8pm slot, 30% reduced demand and a 12% increased supply offer against last Saturday pulled down prices by 34% to Rs 3.85 per unit. Trade was settled for 7.2 million units.

c wanted to buy 9.5 million units for the 8 pm-9pm slot which was 27% less than on last Saturday. Supply offers increased almost 15% pulling down prices by 47% for the slot. 7.99 million units of power were settled for delivery.

For the 9pm-10 pm slot, demand fell 29% while supply increased 15% against last Saturday pulling down prices by 49% during the period to Rs 4.51 per unit.

For supplies between 10 pm and 11 pm, utilities wanted to buy 9.95 million units of power, which was 33% less last Saturday. Supply offers on the other hand increased 21%. Trade was settled at Rs 4.03 per unit, which was 49% less than previous Saturday. This slot witnessed the highest fall in prices within the peak period.

For the 11 pm to 12 midnight slot, demand reduced by 35% while supplies increased 24% against last Saturday. Price was settled at Rs 3.35 per unit – 46% less than the previous Saturday’s corresponding slot.