New Delhi: Indian Energy Exchange's (IEX) green term-ahead market has traded the highest-ever volume of 357 MU during May, comprising 194 MU in the solar segment and 164 MU in the non-solar segment, achieving a significant growth of 92 percent month-on-month (MoM), said IEX in an official statement. A total of 43 participants participated during the month with distribution utilities from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Goa, and Gujarat, among others, as key participants. "The market has become a key facilitator of green power trade among distribution utilities, industrial consumers, and green generators offering the most competitive and viable avenue," said IEX.
The Indian Energy Exchange traded 6,540 MU of electricity volume in May, achieving 9 percent year-on-year (YoY) growth amidst continuation of the COVID-19 lockdowns as well the cyclonic disturbances which affected the overall power demand in the country. The national peak demand at 169 GW recorded a 2 percent YoY growth while the energy consumption at ~111 BU saw 8 percent YoY growth on the weak base, as per the power demand data published by the National Load Dispatch Centre.
The day-ahead market traded 4,364 MU volume in the month of May with the average monthly price at Rs 2.83 per unit. The market clearing price saw a steep decline of 24 percent on MoM basis since average monthly price was Rs 3.70 in the month of April. The sell-bids at 2.2X of the cleared volume during the month ensured ample availability of power and discovery of competitive prices thereby providing optimisation opportunities to the distribution utilities.
The real-time electricity market witnessed a monthly volume of 1,436 MU with average monthly price at Rs 2.53 per unit seeing 28 percent MoM decline. With sell-side bids at 2.6X of cleared volume, the market continued to have ample availability of power and competitive price discovery. The market emerged as a great support to the Southern and Western coastal States that were hit by the Cyclone Tauktae and facilitated them in real time power demand-supply balancing at competitive prices with a great reliability. The market recorded highest ever single day volume of 74 MU on May 29 since its inception on June 1, 2020.
The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 383 MU during the month.
The recently launched Cross Border Electricity Trade achieved 119 MU volume in the month of May. While Nepal has already been participating actively in the dayahead market on the Exchange, the other South Asian countries are expected to join in soon. The market will be instrumental in developing an integrated South Asian regional power market ecosystem and support efficient and sustainable growth of the energy sector in the region.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)