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Good monsoons helped electricity supply outstrip the demand by a wide margin on the Indian Energy Exchange last month, although the average price remained attractive and hovered at around Rs 2.28 per unit.
North-East, East and North regions were net sellers in July, leading power bourse IEX said today.
"Total purchase bids received in the IEX Day-Ahead Market for the month of July 2013 was at 2,925 million units, whereas the sell bids were at 4,771 MUs, indicating 63% more supply on the exchange.
"The average daily cleared volume was 73 MUs, higher than 70 MUs in the month of June 2013," the bourse said in a statement.
The total cleared volume in July was 2,264 MUs as against 2,114 MUs recorded in June.
On the other hand, around 500 MUs of electricity was lost due to congestion in the transmission network which restricts the flow of electricity from one region to another, it added.
Noting that advancing monsoons considerably eased the demand for power last month, the exchange said the prices remained attractive.
As per IEX, the average power price in July across majority of the states remained below Rs 2 per unit.
"... As compared to last month the average prices have risen slightly with the average market clearing price for July at Rs 2.28 per unit, up 2.4% from a month ago," it added.
The Market Clearing Price (MCP), of Rs 2.28 per unit, refers to the price discovered by the exchange before accounting for any constraint/congestion in the transmission corridor.
While the price stood below Rs 5 per unit in the South, the same hovered around Rs 7.54 per unit in Punjab, largely due to transmission constraints.
