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IEX spot power market sees 9% increase in volume to 3375 MU in January

05 Feb 2018 Evaluate

The Day-Ahead market at IEX traded 3,375 MU in January 18, which is about 9% higher than the 3,108 MU traded last month and almost 4% more than 3,231 MU traded in January’17. On a daily average basis about 109 MU were traded. Average daily sell and buy bids were 214 MU and 144 MU respectively. The total sell bids during the month were 6,642 MU and the total buy bids were 4,450 MU.

The average Market Clearing Price (MCP) discovered in the day-ahead market was at Rs 3.20 per unit, about 9% higher than the price in December’17 which was Rs 3.00 per unit and 28% above Rs 2.50 per unit same month last year. The increase in price in January was due to increase in demand, increase in coal prices and railway freight.

The average daily Area Clearing Price (ACP), the price at which settlement takes place, varied from Rs 2.87 per unit to Rs 3.59 per unit across the bid areas. On daily average basis 878 participants traded in the day-ahead power market in January’18.

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