The price of November spot energy drops 20 pcs to Rs 2.85 per unit

New Delhi, December 5 () The average spot energy price fell 20 percent to Rs 2.85 per unit in November compared to the month of the previous year, the Indian Energy Exchange (IEX) said Thursday.

The average spot price or market price of electricity in November 2018 was 3.58 per unit, IEX said in a statement.

The daily market (DAM) traded 3,389 million units (MU) with an average market compensation price of only Rs 2.85 per unit versus the price of Rs 3.58 in November 2018, a 20 percent decrease in The price said.

In the daily market (DAM), the total monthly sales offers were 8,579 MU, while the purchase offers were 4,108 MU, he added.

The 'Price of a nation-one' prevailed for 26 days during the month. Interstate congestion during the remaining days was due to the importation of energy to the southern states.

In the forward market (TAM), volumes increased 157 percent year-over-year due to an increasing number of distribution companies that resorted to TAM contracts, especially during the day, every day, weekly to fulfill their power Short-term demand, IEX said.

According to data from the National Cargo Dispatch Center, the maximum demand across India of 156 gigawatts (GW) in November 2019 decreased by 4 percent compared to the demand of 162 GW in November 2018 and the energy satisfied by 3,300 million units decreased 5 percent yoy

The main reason for this decline was the economic slowdown, as well as the early onset of winters, he said.

On November 27, the Renewable Energy Certificate (REC) market in the IEX saw a total trade of 3.29 lakh REC comprising 2.92 lakh REC non-solar and 0.37 lakh REC solar.

The price of non-solar RECs issued after April 1, 2017, at Rs 1,800 increased by 9 percent from Rs 1,650 in October 2019 and the price of solar RECs at Rs 2,400 remained unchanged since October 2019. The continuous increase in REC prices is mainly due to the deficit due to low inventory since March 2019, IEX said. ABI HRS