Weekly Power Sector Round up: 2nd April 2022

Power consumption grows 4.6% to 126.12 billion units in March

India’s power consumption grew 4.6% year-on-year to 126.12 billion units in March from 120.63 BU in the same month last year, indicating the impact of early onset of summers.

According to the power ministry data, peak power demand met or highest supply in a day rose to 199.29 GW in the month under review, compared to 170.16 GW in March 2020 and 185.89 GW in March 2021.

CERC caps spot power price at Rs. 12 per unit

Power regulator Central Electricity Regulatory Commission (CERC has revised the maximum spot power price on power exchanges to Rs. 12 per unit from Rs. 20 per unit considering the desperate buying by state electricity distribution companies to meet demand.

“In view of the fact that higher price has not led to commensurate increase in supply and such position is likely to remain for some time in coming days due to supply constraints and in view of the fact that 99% of the supply bids (for the days for which data has been analyzed) have been in the range of Rs.12/kWh and only 1% of the supply bids have been higher than Rs.12/kWh, the Commission in exercise of powers under Regulation 51 (1) of PMR 2021 directs the power exchanges until further orders, to re-design, with immediate effect, the bidding software in such a way that members can submit their bids in the price range of Rs.0/kWh to Rs.12/kWh for DAM (day ahead market) and RTM (Real Time Market),” the order by CERC issued in a suo-moto case said.