The Market Clearing Price (MCP) discovered in IEX Spot Power Market fell 11% from Rs 2.92 per unit in May 17 to Rs 2.59 per unit in June 17 whilst, the average daily Area Clearing Price (ACP), the price at which settlement takes place, varied from Rs 1.90 per unit to Rs 3.37 per unit across the bid areas.
Overall 3920 MUs were cleared, 4% below 4100 MUs traded in May 17. On a daily average basis, over 131 MUs were traded. The market pre-dominantly remained a buyer’s market with average daily sell bids of 240 MUs exceeding the average daily buy bids of 148 MUs. 1,018 participants traded in the spot market on an average daily basis. The highest participation was on June 15, 2017 when 1,063 participants traded on the Exchange.
With one price across market on several days, the market hardly experienced any Inter-State transmission congestion. Overall, about 6 MUs were lost in June, about 0.2MUs on a daily average basis mainly on account of constraints in import in northern and southern regions which were congested 3% and 1.6% of the time respectively. In May 17, an overall volume of 16 Mus were lost due to congestion.