Spot Power Price Dips to ₹3.08/kWh in February 2019, a 4% Decline YoY
The peak demand was 162 GW in both January and February 2019
March 14, 2019
For the second month in a row, the peak power demand in India stood at 162 GW. According to the Indian Energy Exchange (IEX), the all India peak demand touched 162 GW in February 2019, registering a 3 percent increase over the demand recorded in February 2018.
Peak demand registered in February 2019 was equal to the 162 GW registered in January 2019 and 1 GW less than the 163 GW peak demand registered in December 2018. On all India basis, the energy supplied in February 2019 was 95 billion units (BU), 3 BU more than the 92 BU compared to February 2018.
The spot power price declined to ₹3.08 (~$0.044)/kWh, a 4 percent decline year-over-year (YoY), compared to the spot power price of ₹3.23 (~$0.046)/kWh registered in February 2018. Compared to January 2019 in which spot power price was ₹3.33 (~$0.047)/kWh, spot power price this month declined by ₹0.15 (~$0.0021)/kWh.
The Day Ahead- Market (DAM) and Term Ahead-Market (TAM) combined traded 2,879 million units (MU) in February 2019, a decline of 15 percent compared to the 3,343 MU traded in February 2018. Lower DAM volume of 2,794 MU in February was primarily due to extended winters which resulted in subdued demand for power from northern and western states.
The DAM experienced transmission congestion with volume loss of 62 MU, representing 2 percent of the total traded volume. The congestion was mainly due to the shutdown of Talcher Kolar Pole line leading to the unavailability of the transmission corridor and leading to an increase in the market clearing price. The TAM traded 84 MU in February 2019, registering an increase of 67 MU over February 2018.
‘One Nation, One Price’ was realized for four days in February primarily due to constraints in southern import. On a daily average basis, 722 participants traded in the market in February 2019.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.