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    Spot power prices ease at Exchange


    May 13, 2022 - Hindu

     

      Spot power prices at Exchange, which was hovering around ?12 per unit amid the coal shortage situation, has eased over the last few days. According to experts, seasonal factors (cooler weather in parts of India) and pick up in wind energy generation will have an impact on the spot tariff.

      The trading in power exchanges happen in 15 minute blocks and prices keep changing based on the demand.

      According to data available on Indian Energy Exchange Ltd, market clearing price for May 12 was in the range of over ?4 to ?8 per unit for the region comprising Tamil Nadu, when compared to ?12 per unit in most of the blocks on May 9. The Central Electricity Regulatory Commission has asked the power exchanges to cap prices at ?12 per unit.

      According to the policy note of the Tamil Nadu Energy Department for 2022-23, the peak demand for power for Tamil Nadu is about 17,000-17,500 MW.

      However, an all-time peak demand of 17,563 MW was reached this summer on April 29 and the all-time high consumption was about 388 million units (MU).

      On Monday, Electricity Minister V. Senthilbalaji told reporters that Tangedco-owned thermal generating power plants had a capacity of 4320 MW and the generation was 4165 MW on April 27.

      The State’s installed capacity from conventional energy sources stands at 16,652 MW, including Tangedco’s own sources, capacities from Central Generating Stations, Gas Turbine Stations and private power purchases, among others. Further, to cater the demand, power was being procured from Exchange, as per the policy note.

      According to Mr. Senthilbalaji, the State was also utilising wind and solar power to the fullest and generation from Mettur and Tuticorin units wer estopped during that time.

      These thermal units are operated only for peak hour requirements in the evening and night and because of this, coal usage has reduced.

      According to data from the State Load Despatch Centre, solar energy generation was 2437 MW on May 11. Wind energy generation was forecast at 88.26 million units on May 12 and 80.87 million units for May 13, according to industry sources.

      The Minister had also said the State had sold 1.44 lakh units on May 1 and 4.5 lakh units on May 9 respectively at ?12 per unit on the exchange.

      “Tariff on power exchange is the function of demand-supply mismatch. We saw the situation of higher spot prices in October and November, when there was a coal shortage issue and later the prices moderated to less than ?4 per unit,” Girshkumar Kadam, senior vice president and co-group head, Corporate Ratings, ICRA said.

      “The seasonal factors affecting moderation in demand as well as the extent of improvement in the energy generation profile will have an impact on spot tariff. As a result, elevated tariff levels of ?8-12 per unit are not likely to be sustained. We expect average spot tariff to remain moderately elevated and range-bound between ?4-4.5 per unit in the current fiscal,” he added.

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