IEX power trade volume grows 17 pc to 8,267 MU in June

For the first quarter of fiscal 2023, IEX achieved 23,437 MU volume across all segments, witnessing a 10 percent year-on-year growth

High fuel costs could lead to power tariff hike, says Kolkata-based CESC

New Delhi: Indian Energy Exchange has registered a 17 percent year-on-year growth in trade volume to 8,267 million units (MU) in June. Power trade volume stood at 7,093 MU Indian Energy Exchange (IEX) in the year-ago period.

“The Indian Energy Exchange achieved 8,267 MU volume on June 22, comprising 7,058 MU in the conventional power market, 536 MU in the green power market, and 673 MU (6.73 lakh certificates) in the REC (renewable energy certificate) market, registering 17 percent y-o-y (year-on-year) volume growth across all market segments,” an IEX statement said.

Owing to improved supply-side availability, the prices at the day ahead market reduced to Rs 6.49 per unit in June 2022 from Rs 6.76 in May 2022, it added.

For the first quarter of fiscal 2023, IEX achieved 23,437 MU volume across all segments, witnessing a 10 percent year-on-year growth across all its market segments, according to the statement.

The Day-ahead Market volume at 4,085 MU saw a de-growth of 5 per cent year-on-year and growth of 29 percent month-on-month in June. The average market clearing price was Rs 6.49 per unit in the month.

The Term-ahead Market comprising intra-day, contingency, daily and weekly contracts traded 759 MU during the month, registering 18 percent year-on-year growth.

The Real-time Electricity Market achieved 2,214 MU volume during the month, registering a growth of 28 percent year-on-year. The highest single-day volume of 96.43 MU was achieved on June 14, 2022.

In a recent order by Central Electricity Regulatory Commission (CERC), exchanges have been permitted to commence trade in the longer-duration contracts on their platforms.

Earlier, exchanges were allowed to sell contracts for up to 11 days and with the introduction of longer-duration contracts, they will now be able to facilitate trade contracts comprising daily, weekly, and monthly contracts for up to 3 months.

The IEX Green Market comprising the Green Day-ahead and Green Term-ahead Market achieved 536 MU volume during June 2022 with a year-on-year growth of 30 per cent.

A total of 6.73 lakh RECs were cleared in the trading session held on Wednesday, June 29, 2022, on the exchange, registering a 145 percent month-on-month growth.

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