February power market summary

April 7, 2015 8:54 am0 commentsViews: 175

K(01_2015_February-power)2A huge fall in average daily short term procurement in NR was witnessed in February 2015. As against an average of 92-96 MUs of short term procurement on a daily basis including both the bilateral and Power Exchange market, the average daily short term procurement for February has been just 84 MU. It is because of this that the average power price at IEX was Rs 2.59 for February as against Rs 2.70 in January 2015, indicating a fall of almost 11 paisa per unit.

While NR continued to dominate short term power demand, its share went down to 42% whereas the same was ~46% of All-India short term procurements in January 2015. NR and SR continue to remain key centres of purchase together accounting for almost 69% of the bilateral purchases and more than 2/3rd of the overall short term procurement.

Short term power demand in SR continued to top WR to gain the second spot, both in overall short term buying and in the bilateral market. SR procurements stood at 26.6% of the overall short term bilateral market. It is also important to note that the share of short term procurement through Power Exchanges continues to gain strength in the Western Region with the region procuring over 50.5% of its power through exchanges only. This is the highest proportion of exchange based procurement across all the fi ve regions. ER however has been shying away from exchange-based procurements and continues to rely on traditional bilateral trade.

K(01_2015_February-power)3We also notice that the Power Exchanges volume which remained relatively stable over the previous 3 months saw a slight fall in average daily trade, where the numbers went down from an average of 76-77 MU/Day to ~73 MU/Day. We need to also note that power sale of almost 1000 MUs in power exchanges directly by generators connected to state grid, does not form a chart of PX sale shown in the above chart. The chart shows all bilateral interstate sale of power and power sale by entities connected to the National Grid (i.e. the states and the PGCIL connected private generators) who participate directly in power exchanges. Power sale from key private generators: The following table lists down the power sale summary of major power generators across the country with details of the mode under which power was sold by each of them, to facilitate a comparative analysis.
Courtesy: India Electron Exchange Ltd

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