Wet weather, lower power bills

30 Aug 2024 , 12:23 PM

Power rates on the Indian Energy Exchange (IEX) have dropped significantly this month compared to a year ago as a result of the country’s widespread, nonstop rains.

Between August 1 and August 28, the average daily price in the day-ahead market (DAM) was ₹4.33 per unit, which represents a 35.5% decrease from the same period in the previous year. According to IEX data, the real-time market’s (RTM) average daily price decreased by 42.2% year over year to ₹3.58 per unit during the same period.

In addition, August’s average daily price is less than July’s, when the DAM price was about ₹ 5 per unit.

August was warmer and there was less rainfall than it was the year before, which increased the need for cooling and irrigation. “Demand has decreased due to widespread rainfall and cooler temperatures. This is reflected in prices in DAM and RTM,” a government representative stated to ET.

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