Average spot power price drops 29 pc to Rs 2.35/unit on IEX

Average spot power price dropped 29 per cent year-on-year to Rs 2.35 per unit in the day-ahead market in June on India Energy Exchange (IEXNSE -1.49 %).

The day-ahead market (DAM) traded 4,174 MU (million units) witnessing high sell-side liquidity in the month, with total sell bids at 10,164 MU being close to 1.5 timed the buy bids at 4,661 MU, according to an IEX statement.

“The average market clearing price during the month was at Rs 2.35 per unit registered a whopping 29 per cent YoY (year on year) decline over a price of Rs 3.32 in June