Wind power generators produced more than 100 million units, one of the highest generating days in the season pulling down prices it increased supplies dampening prices for the day.
Average power price at the exchange fell 12.52% to Rs 3.11 per unit on Wednesday as distribution companies cumulatively wanted to buy less power than on offer for the day. Utilities wanted to buy 179.7 million units of power for Wednesday, 3.47% less than on Tuesday. Generators offered to sell 282.1 million units for supplies on Wednesday, 4.53% more than the previous day.
During the 8 pm – 12 midnight slot, when demand remained greater than supplies for the last few weeks, availability has turned to be more than demand.
For supplies on Wednesday between 8 pm and 9 pm, generators offered to sell 9.6 million units which was around 30% more than on Tuesday. Utilities wanted to buy 9.96 million units, 0.54% less than the previous day. It pulled down prices for Wednesday by 32% against the previous day to Rs 4.94 per unit for the slot. Trade was settled for 8.18 million units.
For the 9 pm - 10 pm slot, on Wednesday, generators offered to supply 9.62 million units which was nearly 31% more than the previous day. Demand from utilities declined 5% on the day to 9.8 million units pulling down prices by 45.3% to Rs 4.84 per unit.
Supplies between 10 pm – 11pm slot for Wednesday was settled at Rs 3.96 per unit, 4.93% less than the previous day as generators wanted to sell 11% more power at 9.62 million units. Utilities wanted to buy 9.29 million units of power. Trade was settled for 7.51 million units.
Price for supplies between 11 pm and 12 midnight was settled at Rs 3.96 per unit, almost 5% less than the previous day. Generators increased supplies by 11% to 9.62 million units while demand for the period reduced by 5.3% to 9.29 million units. Trade was settled for 7.51 million units.
Referred from economic times