IEX green day-ahead market discovered average price of Rs 3.8/unit within first 6 days

• The day-ahead market achieved trading of 6,568 MU volume in October and saw an average monthly price at Rs 8 per unit
• The real-time electricity market traded 1,999 MU volume and saw a significant 145 percent year-on-year volume growth with the average monthly price at Rs 6.91 per unit

New Delhi: Indian Energy Exchange's (IEX) green day-ahead market (GDAM), which commenced the trade of electricity on October 26, achieved 24.8 MU volume in the first six days and discovered weighted average price of Rs 3.8 per unit, said IEX on Tuesday. About 56 participants took part in the first six days of trading. The IEX also commenced trade in Energy Saving Certificates (ESCerts) under Perform, Achieve & Trade Cycle-II (PAT-II) on October 26 and accomplished the trade of 43,409 ESCerts, said the exchange. The trade will take place every Tuesday. 

Electricity market: Day-ahead, Term-ahead & Real-time

The day-ahead market achieved 6,568 MU volume in October, achieving 19.4 percent year-on-year growth. The market saw an average monthly price at Rs 8 per unit. In the first fortnight, the average price was -Rs 12 per unit. However, with various supply-side interventions initiated by the government, such as improved domestic coal availability and prompt intervention by the railways to enhance supply of coal to the power generating stations, the price corrected to Rs 4.1 per unit in the second fortnight. In fact, in the last week of the month, the power price further corrected to Rs 3.4 per unit.

The term-ahead market, comprising intra-day, contingency, daily and weekly contracts traded 225 MU during the month. The real-time electricity market traded 1,999 MU volume and saw a significant 145 percent year-on-year volume growth with the average monthly price at Rs 6.91 per unit. "The consistent growth of real-time electricity market is an indication of growing reliance of the distribution utilities and industries to achieve power demand-supply balancing in real time in the most efficient manner," said the IEX.

Green Market: Day-Ahead & Term-Ahead

The green market at IEX now comprises of both the day-ahead and term-ahead contracts. During the month, the market achieved 372.4 MU volume in both the segments. The Green Term-Ahead market (GTAM) achieved 347.7 MU volume, seeing a significant 67 percent year-on-year growth. The market witnessed participation from 46 participants during the month with key distribution utilities from states like West Bengal, Bihar, Haryana, Telangana, Karnataka, DVC, Uttar Pradesh, Maharashtra, Punjab, Tamil Nadu and Madhya Pradesh.

In October, the electricity market at the IEX traded 9,165 MU volume, with 8,792 MU in power market and 373 MU in green market, achieving 36 percent year-on-year growth. According to the power demand data published by the National Load Dispatch Centre, the national peak demand at 175 GW saw 3 percent year-on-year growth during the month while the energy consumption at 114 BUs also saw 3 percent growth during the month.

(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.)