The average spot price of electricity plunged 12 per cent to Rs 2.67 per unit in November as compared to October at the Indian Energy Exchange.
"At Rs 2.67 per unit, the Market Clearing Price (MCP) for November 2015 was 12 per cent lower than the MCP in October," Indian Energy Exchange said in press statement.
According to the statement even (different bid) Area Clearing Price (ACP) dipped by 12 per cent across all bid areas while in South, prices slashed by 21 per cent due to relative ease in congestion on Inter-State Transmission System as well as increase in generation within the region.
In November, average daily sell bids of 6,402 MW were received, up by about 4 per cent over the previous month while purchase bids were 4,540 MW, down by about 20 per cent over the previous month.
Almost 91 MUs (million units) were traded on a daily average basis with total cleared volume at 2.7 BUs (billion units, 16 per cent less over 3.2 BUs traded last month. The decrease in volume can be attributed to subdued demand by state utilities due to winter season.
In the same month last year (November 2014), 2.1 BUs were traded, about 22 per cent lower than this month's (November 2015) trade.
The bourse said that the inter-state transmission congestion wasn't much of a deterrent as about 116 MUs were curtailed in November, 29 per cent lower than 164 MUs lost in the previous month.
On an average, 924 participants traded in the spot market on daily basis in November.
