Spot prices of electricity at the Indian Energy Exchange (IEX) increased by 66% annually in October with average market clearing price recorded at Rs 4.08 per unit. Trade volumes went up by about 13% to 4,079 million units in the month, the exchange said. The average daily market clearing price varied from Rs 2.82 per unit to Rs 5.62 through the month. Spot power prices of electricity traded in IEX hovered in the Rs 5-5.45-per-unit range during the week of Diwali. The rise in spot prices, as well as electricity volumes traded, is in line with the trend in the recent past when state-owned power distribution companies were buying more power from the short-term market in the wake of shortage of electricity generation from wind, hydro and nuclear units. However, the volumes registered a dip in the week after the festival of lights, coinciding with the onset of the change in season, which has lowered the demand for power.