Spot price of electricity declined by 4 per cent to Rs 2.49 per unit at the Indian Energy Exchange in July compared to the previous month as demand eased due to continuing rains in most parts of the country. "In July 2017, the Market Clearing Price (MCP) discovered in Day Ahead Market (DAM) fell 4 per cent to Rs 2.49 per unit from Rs 2.59 per unit in June\u201917," IEX said in a statement. The demand for electricity has eased a bit with rains continuing in most parts of the nation, the statement said. The average MCP during the day (0800 hrs to 1800 hrs) and the night was Rs 2.18 per unit while during the evening peak (1900 hrs to 2300 hrs) the average MCP was Rs 4.03 per unit. Overall 3,669 MU were cleared, 6 per cent below 3,920 MU traded in June 2017, the statement said. "On a daily average basis over 118 MU were traded. The market pre-dominantly remained a buyer\u2019s market with average daily sell bids of 216 MU exceeding the average daily buy bids of 139 MU," the statement added.