Posh broke the deadlock at London Road through Danny Swanson, but saw Johnnie Jackson and Danny Haynes turn the game on its head.
Michael Bostwick restored parity in the 71st minute, ensuring that the spoils would be shared.
Powell feels his side offered more than enough to take something from the game and is pleased to have seen them edge further clear of the drop zone.
"I think a point apiece was about right overall," he said.
"We started well only to find ourselves behind, but then responded very well in the second half to get in front.
"We were well aware of the fact that Michael Bostwick has a good strike on him. It's something we spoke about beforehand but unfortunately we couldn't stop him unleashing one to get Peterborough level.
"Both teams had chances and both could have won it, but I'll settle for a point after a couple of poor results lately.
"We're only six points clear of the relegation zone so we can't afford to be complacent. That sort of gap can be wiped out very quickly so and we must continue to work hard."