Kolkata: Spurt in demand from Gujarat, Tamil Nadu, Uttar Pradesh and Odisha have increased average power prices at the Indian Energy Exchange to Rs 4.38 per unit for Saturday supplies -- highest during the last 31 days.

Saturday’s average price was 41% higher than the average price for Wednesday this week. Highest price for Saturday settled for supplies between 9 pm and 10 pm touched Rs 8.83 per unit, 82% higher than the price for the same slot traded for Wednesday supplies.

Demand for power was 14.61 million units, 49% higher than on Wednesday while total supply offer was 8.6 million units, 10.6% less during the corresponding period last Wednesday.

Increased demand as well as reduced supply offers widened the gap to 6 million units which was marginal on Wednesday. Total power demand for Saturday at the IEX was 255.49 million units, 9.82 million units higher than supplies which totalled 265.31 million units for the day.

Demand and supply offers were 42% more and 6% less than on Wednesday.

Increased demand from certain states on account of heat and lower supplies raised prices for the day. Demand exceeded supply between 7 pm and 12 midnight.

For supplies on Saturday between 7 pm and 8 pm, demand was 11.75 million units or 29% more than on Wednesday.

Supply offer at 9.04 million units was 8% less than on Wednesday raising prices by 45.5% to Rs 5.87 per unit. Between 8 pm and 9 pm, utilities wanted to buy 13.07 million units of power which was 31% higher than on Wednesday.

Supply offers for this slot was 8.67 million units or 9.75% lower than on Wednesday.

Price was settled at Rs 8.21 per unit which was higher by 66.27% than on Wednesday’s price for the slot. Highest increase in demand between Saturday and Wednesday was during the 10 pm to 11 pm slot when utilities wanted to buy 14.93 million units, or 53.6% more than on Wednesday’s corresponding slot.

Supply offers declined 7.84% to 8.91 million units.

Trade for Saturday deliveries was settled at Rs 7.91 per unit, or 74.79% more than last Wednesday’s corresponding slot. For deliveries between 11 pm and 12 midnight on Saturday, utilities wanted to buy 13.68 million units, 47.27% higher than on Wednesday.

Demand was higher than supply offers by 4.44 million units when generators offered to supply 9.24 million units, or 4% less than on Wednesday.