PSU Watch logo

| BHEL to procure 300 products worth Rs 3,000 crore annually from MSMEs |   | All India Power Engineers’ Federation (AIPEF) urges govt to hold privatisation of discoms in UTs |   | Oil & gas PSUs to set up 7-8 Green Hydrogen pilot plants by 2021-end: Petroleum Secretary |   | RITES consortium emerges lowest bidder for railway project in Bangladesh |   | Coal India forms 2 new subsidiaries for solar PV manufacturing & undertaking RE projects |   | No state has asked to stop train services: Railway Board Chairman |  

IEX electricity market sees 50% y-o-y growth in Feb

The Indian Energy Exchange (IEX) traded 6,769 MU volume and registered a 50 percent year-on-year (YoY) growth in the month of February

IEX electricity market sees 50% y-o-y growth in Feb
IEX electricity market sees 50% y-o-y growth in Feb
  • The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 432 MU volume during February

  • The Real-time market discovered an average price at Rs 3.31 per unit and saw daily average participation from about 323 participants during the month

New Delhi: Continuing the growth momentum, the electricity market at the Indian Energy Exchange (IEX) traded 6,769 MU volume and registered a 50 percent year-on-year (YoY) growth in the month of February. “The robust growth in volume indeed indicates that the Exchange’s electricity market is clearly positioned as the most preferred option for distribution utilities and the industrial consumers to source electricity for addressing the demand-supply balance as well as to optimise power procurement portfolio at a competitive price and in an utmost flexible and transparent manner,” said the IEX in an official statement on Thursday.

According to the data published by the National Load Despatch Centre, the national peak demand at 188 GW registered 2.17 percent YoY growth, while the average daily electricity consumption increased 3.31 percent YoY in February. One Nation, One Price prevailed during all the 28 days of the month.

Term Ahead market records 90.84% increase in Feb YoY

The day-ahead market traded 5,124 MU volume and saw a notable 19.5 percent YoY growth in February. The cumulative sell bids at 8,535 MU were 1.7 times of cleared volume, indicating ample availability of power in the market. The average monthly price at Rs 3.39 per unit during the month saw 16 percent YoY increase driven by a sharp increase in demand by several states. The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 432 MU volume during February, recording a significant 90.84 percent YoY increase.

Real-time market trades 1118.45 MU in Feb: IEX

The real-time market continued its exemplary performance and traded 1,118.45 MU volume in February. The market crossed 1BU+ volume milestone for the third consecutive month. The sellside bids at 2X of the cleared volume indicate good availability of power in the market. The market discovered an average price at Rs 3.31 per unit and saw daily average participation from about 323 participants during the month.

ALSO READ: IEX market trades highest-ever 7,260 MU in Dec, registers 52% growth YoY

The real-time market has been supporting utilities and open access consumers in balancing the real-time demand, with delivery of power at just 1.5 hour’s notice. Since its launch on June 1, 2020, the real-time market has cumulatively traded 8,054 MU.

Green market

The Green Term Ahead Market traded a volume of 93.72 MU during the month comprising 37.5 MU in the solar segment and 56 MU in the non-solar segment. The distribution utilities, renewable generators, and open access consumers leverage the green market to buy-sell green energy besides also fulfilling the Renewable Purchase Obligation (RPO) targets. A total of 25 participants participated during the month with distribution utilities from Haryana, Bihar, Uttar Pradesh, West Bengal, New Delhi, Karnataka, Telangana, and Maharashtra among others, as key participants.

The market has cumulatively traded 735 MU volume since its launch on August 21, 2020.

Renewable Energy Certificates

The REC trading session which was scheduled on February 24 did not take place due to the stay order from APTEL in response to the petitions filed by a few Renewable Energy Associations against the CERC order dated June 2020 regarding revision in the floor and forbearance prices of REC.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)