Volume of electricity traded hits record in September

Higher demand from eastern, western and southern states, low availability of coal and reduced wind and hydropower generation cited as main reasons

Utpal Bhaskar
Updated5 Oct 2018
Electricity prices touched Rs 17.55 per unit on the India Energy Exchange on Saturday
Electricity prices touched Rs 17.55 per unit on the India Energy Exchange on Saturday

New Delhi: India witnessed an all-time high volume of electricity traded in a month on the exchange market in September due to a raft of reasons such as higher demand from eastern, western and southern states, low availability of coal and reduced wind and hydropower generation, according to the India Energy Exchange (IEX).

Also, scanty rainfall and dry weather in the southern states led to a record 5,829 million units (MU) being traded in September.

Prices touched 17.55 per unit on the IEX on Saturday. The all-time high for electricity in the spot market was 8.2 per unit for October 4 delivery. The previous all-time high for electricity in the spot market was 7 per unit in April 2009. Prices have been rising since September.

“The all India peak demand touched 176 gigawatt (GW) on 18 September 2018, registering 3% increase over August 2018 and 11 % increase over September 2017,” IEX said in a statement.

“The electricity market at IEX – the Day Ahead- Market (DAM) and Term Ahead-Market (TAM) combined traded the highest ever monthly volume of 5,829 MU in September’18.”

A power exchange functions on the lines of commodity exchanges and provides a platform for buyers, sellers and traders of electricity to enter into spot contracts for the same day, coming day, and on a weekly basis.

Of around 1,200 billion units (BU) of electricity generated in India, the short-term market comprises 130-150BU. This trade volume has grown by 10% annually and is currently valued at about 22,124 crore.

The country also registered an all-time high volume of 306.28 million units (MUs) of electricity traded in the exchange market on 29 September, Mint reported due to higher demand from states such as Tamil Nadu, Andhra Pradesh, Telangana, Orissa, West Bengal, Assam, Gujarat and Maharashtra.

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
HomeindustryenergyVolume of electricity traded hits record in September

Most Active Stocks

Bharat Electronics

275.45
07:09 AM | 21 MAY 2024
16.6 (6.41%)

Tata Steel

173.85
07:09 AM | 21 MAY 2024
5.95 (3.54%)

Indian Oil Corporation

167.45
07:09 AM | 21 MAY 2024
2.5 (1.52%)

GAIL India

207.60
07:09 AM | 21 MAY 2024
-1.15 (-0.55%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Housing & Urban Development Corporation

267.35
07:01 AM | 21 MAY 2024
22.95 (9.39%)

Poly Medicure

1,812.25
07:01 AM | 21 MAY 2024
153.9 (9.28%)

SJVN

146.70
07:01 AM | 21 MAY 2024
11.95 (8.87%)

IRCON International

295.85
07:01 AM | 21 MAY 2024
22.3 (8.15%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,557.000.00
    Chennai
    74,997.000.00
    Delhi
    75,071.000.00
    Kolkata
    75,511.000.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    99.84/L0.00
    Chennai
    100.88/L0.00
    Kolkata
    103.94/L0.00
    New Delhi
    94.72/L0.00
    HomeMarketsPremiumFor youGet App