Average spot power price up nearly 53 pc to Rs 3.70/unit in April at IEX

The average spot power price rose by nearly 53 per cent to Rs 3.70 per unit in April at the Indian Energy Exchange (IEX) primarily due to increase in demand. In April 2020, The average monthly price stood at Rs 2.42 per unit, an IEX statement said.

“The day-ahead market (DAM) traded 5,699 MU (million units) volume in April, 2021 achieving a significant 54 per cent year-on-year (YoY) growth,” it noted.

According to the statement, the rise in price was primarily due to increase in demand and low base. There was a sharp slump in electricity prices in April 2020, due to a stringent nationwide lockdown.

The day-ahead market saw ample availability of power with sell-bids at 1.48X of the cleared volume during April. As per the market data, the IEX entered the new fiscal year 2021-22, with 7,707 MU volume in April, achieving a 90.2 per cent YoY growth.

The term-ahead market (TAM) comprising intra-day, contingency, daily & weekly contracts traded 349 MU during April.