The average monthly spot market price of electricity remained unchanged at Rs 2.32 per unit on Indian Energy Exchange (IEX) in December compared to November, mainly due to low demand.
"The Day-Ahead Market at IEX witnesses transactions of 3,101 MUs in December 2016 despite low demand due to the cold wave in North and congestion in Inter-State Transmission Network," IEX said in a statement.
According to the statement, on a daily average basis, 100 MUs were traded. The average Market Clearing Price (MCP) for the month was Rs 2.32 per unit same as the previous month (November 2016) and about 10 per cent less over prices of Rs 2.56 per unit in December, 2015.
The average Area Clearing Price (ACP) the price at which settlement takes place, varied from Rs 1.43 per unit to Rs 4.50 per unit, it said.
With the average daily purchase bid of 119 MUs and average daily sell bids of 229 MUs, the market remained highly liquid and thus the prices were buyer friendly. The open access consumers were key buyers in the market followed by distribution companies, the IEX stated.
Unavailability of transmission corridor continued to be a deterrent and led to market splitting and price variations. As a result of congestion 4.4 MUs were lost on a daily average basis, it said.
The Southern import was congested about 47 per cent of the time mainly due to increased demand, outages and limited availability of the corridor, it added.
The Northern import was congested 34 per cent of the time during the month mainly due to congestion on Gwalior-Agra Transmission Link, Mundra-Mohindergarh Link and HDVC Rihand-Dadri link, it said.
There were two instances in the month: December 18 and 20 when the power spot market was cleared at one uniform Market Clearing Price for the entire country for whole days leading to One Nation, One Grid and One Price.
As many as 1,162 participants traded in the spot market on an average daily basis. The highest participation was on December 22, 2016 when 1,292 participants traded on the Exchange.
In the term-ahead market, 57 MUs were traded, about 72 per cent decrease over 201 MUs traded last month.
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