Weekly Power Sector Round up: 11th July 2020

Power demand slump reduces to 2.6% in July

The power demand slump has narrowed to 2.6% at the start of July as compared to the 9.6% in June. Easing of lockdown restrictions has led to an improvement in the commercial and industrial activity in the country. It is predicted that power demand levels will go back to normal by August.

Average spot price on IEX drops to Rs 2.35/unit

Average spot price dropped 29% to Rs. 2.35/unit on the day-ahead market in June on the India Energy Exchange (IEX).4,174 MU (million units) were traded with total sell bids at 10,164 MU being close to 1.5 times the buy bids at 4,661 MU, an IEX statement said.

The increased availability of power and attractive prices in the market ensured that the industries as well as the distribution utilities continue to have access to lower electricity prices leading to greater savings as well as assisting them in building the much needed financial liquidity which is critical at this hour, the statement added.