Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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Short-term power trading volumes for delivery, on Tuesday, hit an all-time high of 268.3 million units (MU) at the Indian Energy Exchange, in the wake of a surge in demand for electricity in the eastern, southern and western States mainly due to inadequate supply of coal and decrease in wind power generation. Retreating monsoon State power distribution companies buy short-term power from the exchange to meet demand requirements. In recent weeks, the short-term demand has increased across the country due to shortage of coal and higher demand on account of the retreating monsoon. According to an exchange official, the number (268.3 MU) scaled on Monday trading for Tuesday delivery till 12 p.m. The previous high volume traded in the day-ahead market was 215.31 MU for delivery on September 11, 2018. For the first time, in more than 10 years since operations commenced at the exchange, the maximum sell bid in a 15-minute time block touched as high as 15,358 MW, while the purchase bid touched 16,131 MW and the cleared volume reached 12,268 MW, the exchange said in a statement. Northern States such as Delhi, Haryana, Punjab and Rajasthan, which have been receiving good rainfall over the last three days, were the key sellers in the market. According to the exchange, the prevailing peak demand in the system has been about 150 GW. In terms of rates, the average market clearing price (MCP) discovered was Rs. 4.93 per unit. During different time-periods for the trade the MCP was: Morning (07:00 to 10:00 Hrs): Rs. 4.03 per unit, Day (11:00 to 17:00 Hrs): Rs. 4.50 per unit, Evening peak (18:00 to 23:00 Hrs): Rs. 7.64 per unit, Night (01-06 Hrs and 24 Hrs): Rs. 3.55 per unit. According to the exchange official, prices touched as high as Rs. 14.08 per unit on September 17, due to demand for power across states and has now eased slightly as northern states turned sellers.
