Muted demand brings spot power rates to low levels
Lower power demand induced by coronavirus has driven down spot electricity prices with ‘day ahead market’ rates for March 25 delivery falling down to Rs 1.95/unit. The spot power rate was Rs 3.3/unit in the same day last year. The volume of spot power contracted for March 25 through the Indian Energy Exchange (IEX) is 77.5 million units (MU), 43% lower than last year’s amount.
The average clearing price at the Indian Energy Exchange (IEX) for the last 4 days is Rs 2.15/unit. Due to dearth of demand, the volume of power offered for selling in the exchange was 2.5 times more than the bids to buy electricity.
