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Home News Power Sector News IEX clocks highest electricity trading volume at 125 mn units

IEX clocks highest electricity trading volume at 125 mn units

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IEXThe volume of electricity traded on the Indian Energy Exchange touched a high of 125 million units on 06-10-2014, spurred by rising demand for power. With demand outstripping supply, the price of electricity traded yesterday rose to Rs 5.29 per unit.

According to the bourse, the volume of electricity traded was the "highest ever" at 125 million units on Monday and this power is to be delivered today.

"This achievement surpasses the last highest traded volume of 117 MUs which was traded on September 8, 2013," IEX said in a statement.

Generally, the spot power market on the exchange sees more than 80 MUs of electricity trade on a daily average basis.

"With buy bids of about 197 MUs and sell bids of about 131 MUs, the spot market clearly saw increased demand and limited supply... The Market Clearing Price (stood) at Rs 5.29 per unit, 23 per cent higher than MCP of Rs 4.29 on the previous day," the statement issued today said.

Besides, IEX said that yesterday inter-state transmission congestion was limited.

Among others, the exchange offers products in Day-Ahead and Term-Ahead markets.

Under Day-Ahead Market (DAM), participants carry out trade in electricity on 15-minute block basis, a day prior to the delivery of power.

Contracts under Term-Ahead Market (TAM) are for a duration of up to 11 days.

Source- BS

 

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