Similarly, on June 1, Indian Energy Exchange also saw highest ever trading of power
The country witnessed its highest ever power demand at 170.9 gigawatt (gw) in May.
As per the data with Power System Operation Corporation Ltd (POSOCO or National Load Despatch Centre) the all-India peak demand touched 170.9 gw last month, about 6.2% more than the highest peak demand of 161 gw seen in May last year.
Similarly, on June 1, Indian Energy Exchange (IEX) also saw highest ever trading of power.
"At IEX, we traded 5,169 million units (MU) in May 2018 vis-à-vis 4,179 MU traded in April 2018 and 4,164 MU traded in April 2017, which is an increase of 24% in both the cases. The monthly electricity trade volume crossed 5 billion units in the month of May, for the first time," read IEX's statement.
On IEX, the day-ahead market saw the highest-ever trade of 208.42 MUs for the delivery date June 1.
Accordingly, power prices have also spiked. The per unit rate (7 am to 6 pm) was Rs 4.67 per Kilowatt hour (kWh) in North India on May 17, which rose to Rs 5.68/kWh and Rs 6.83/kWh, respectively, on the next two days. The spot power prices touched a high of Rs 8.41 per unit on May 21.
The short-term power prices surged even in the month of April to an average of Rs 3.98 per unit as compared to Rs 2.91/unit a year ago. According to an expert, the rise in April prices was led by a 2% increase in the demand.
"The key reasons for increase in volume and price were the peak summer season leading to increase in demand from the distribution companies, lack of adequate availability of coal, low hydro generation, slow pickup in the wind power generation in southern and western states," read a statement from IEX.
On May 23, DNA Money had reported how electricity prices had peaked due to same factors.
SOARING MERCURY
- The all-India peak demand touched 170.9 gw last month, 6.2% more than demand of 161 gw in May last year
- On June 1, Indian Energy Exchange also saw highest ever trading of power
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