Power prices at the Indian Energy Exchange NSE 2.09 % increased between 12.76% and 16.39% during the night peak period (8 pm-12 midnight) on Wednesday as supply offers fell short of increased demand.
On Wednesday, trade for supplies between 8 pm and 9 pm was settled at Rs 5.81 per unit – 15% more than on Tuesday. Demand for power during the slot increased 18.69% while offer for sale increased 13.56% only increasing the gap between demand and supply. Utilities offered to purchase 12 million units while generators offered to sell 10.01 million units. Trade was settled for 9.86 million units keeping demand for 3.03 million units unmet.
Trade for supplies between 9 pm and 10 pm was settled at Rs 6.16 per unit – 16.39% more than on Tuesday. Demand for power during the slot increased 21% while offer for sale increased 8.08% only. Utilities offered to purchase 13.76 million units while generators offered to sell 9.98 million units. Trade was settled for 9.77 million units keeping demand for almost 4 million units unmet.
The highest difference between demand and supply was during the 10 pm and 11 pm slot when almost 4.12 million units of power demand remained unserved. Demand during the period was 13.75 million units while offer for sale was around 9.84 million units. Trade was settled for 9.63 million units at Rs 6.06 per unit, 12.76% higher than the previous day’s corresponding slot.
For the 11 pm to 12 midnight slot, price was settled at Rs 4.99 per unit, higher by nearly 15% than Tuesday’s trade for the same slot. Utilities wanted to buy 12.25 million units, while generators offered to sell 9.77 million units. Trade was settled for 9.39 million units, keeping demand for 2.86 million units unmet. Purchase bid for the slot on Wednesday was higher by 11.4% than on Tuesday while generators increased supplies during the slot by 0.91% in comparison to Tuesday’s supply offers.
Demand is on the rise due to increased consumption by urban consumers using air conditioners at home as well as from rural India using additional gadgets.