Friday, June 24, 2022

IEX’s real-time market witnesses robust 235% growth in June y-o-y

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  • According to IEX, the real-time electricity market witnessed the highest-ever monthly volumes of 1,726 MU at an average monthly price of Rs 3.02 per unit
  • The day-ahead market traded 4,314 MU volume in the month of June with the average monthly price at Rs 3.06 per unit

New Delhi: Signalling a good appetite amidst DISCOMs for procuring power in real-time at competitive prices, the Indian Energy Exchange’s (IEX) real-time electricity market has witnessed a strong growth in June of 235 percent year-on-year (y-o-y) and 20 percent month-on-month (m-o-m). According to IEX, the real-time electricity market witnessed the highest-ever monthly volumes of 1,726 MU at an average monthly price of Rs 3.02 per unit. The market also recorded highest-ever volume in a single day with 80 MU traded on June 22. In the first quarter of FY22, the market has done a cumulative trade of 4,635 MU. 

IEX’s Green Term-Ahead Market trades highest-ever volume in June

The green term-ahead market also saw the highest-ever monthly volume being traded in June. With a volume of 412 MU during June, the market saw 15 percent growth over the previous month led by the ongoing wind season. For the first quarter, the market has registered a cumulative trade volume of 955 MU, already surpassing the total green volumes achieved in FY21. “The market is witnessing a growing increase in participation and has become a key facilitator of green power trade among distribution utilities, industrial consumers, and green generators offering the most competitive and viable avenue. A total of 49 participants participated during the month with distribution utilities from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Goa, Maharashtra, Daman & Diu, Assam and New Delhi among several others, as key participants,” said IEX.

Day-ahead Market records monthly price of Rs 3.06 per unit

The day-ahead market traded 4,314 MU volume in the month of June with the average monthly price at Rs 3.06 per unit. The sell-bids at 2X of the cleared volume during the month of June ensured ample availability of power and discovery of competitive prices thereby providing optimisation opportunities to the distribution utilities. For the first quarter of the year 2022, the day-ahead market on the Exchange, traded 14,377 MU and registered 7 percent y-o-y growth.

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The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 641 MU during the month, recording a 539 percent y-o-y growth. Cumulatively, for the first quarter, the term-ahead market traded a total of 1,372 MU and registered 54 percent y-o-y growth. 

IEX sees 48% increase in volumes traded in June y-o-y

The IEX traded 7,093 MU of electricity volume in June recording 48 percent y-o-y growth. According to the power demand data published by the National Load Dispatch Centre, the national peak demand saw 16 percent y-o-y increase, with the highest ever peak demand at 191.51 GW, while energy consumption at 115 BU grew 8 percent y-o-y. The growth has been led by relaxations in COVID-19 related lockdowns across the country along with peak summer season and heat wave in Northern India.

Cumulatively for the first quarter of fiscal year 2022, the exchange market witnessed a robust performance despite the CoVID-19 induced lock-down restrictions. The electricity market achieved the volume of 21,340 MU during the first quarter resulting in 44 percent y-o-y growth.

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