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IEX records average clearing price of Rs 8.23/unit in March as electricity demand rises

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  • The Day-ahead Market sales volume at 5,858 MU saw 4.4 percent month-on-month growth during the month, said IEX
  • Cumulatively for the fiscal year 2022, the IEX market achieved an all-time high electricity trade volume of 102,035 MU leading to 38 percent year-on-year growth

New Delhi: The Indian Energy Exchange’s (IEX) Day-ahead Market saw average market clearing price of Rs 8.23 per unit of electricity in March, which was higher by 85 percent on month-on-month and 102 percent on year-on-year basis. The Day-ahead Market sales volume at 5,858 MU saw 4.4 percent month-on-month growth during the month, said IEX on Wednesday. “The price increase was mainly on the account of early onset of the summer season leading to increased demand for power across all the states and low generation from the imported coal and gas-based generators due to record high imported coal and gas prices,” said IEX.

IEX achieves an all-time high trade volume of 102,035 MU

The IEX achieved 9,605 MU volume in March, comprising 8,702 MU in the conventional power market, 392 MU in the Green Power Market and 511 MU (5.11 lakh Certificates) in the REC Market, registering 16 percent year-on-year volume growth across all market segments.

According to the power demand data published by the National Load Dispatch Centre, the energy consumption at 126 BU saw 2.5 percent year-on-year growth on a high base, while the national peak demand at 199.29 GW saw 7.2 percent year-on-year growth during March. For the last quarter of the fiscal year 2022, IEX achieved 27,017 MU volume and achieved 20 percent year-on-year growth across all its market segments.

Cumulatively for the fiscal year 2022, the IEX market achieved an all-time high trade volume of 102,035 MU leading to 38 percent year-on-year growth. The growth in electricity volumes on the exchange platform clearly underlines the value delivered by the IEX platform to generators, distribution utilities and the industrial consumers in facilitating the most competitive, flexible, and efficient power trade, said IEX.

As per the government data for the fiscal year 2022, the national peak demand for electricity at 200.5 GW saw 5.5 percent growth, while electricity consumption at 1371.7 BU saw about 8 percent year-on-year growth.

Electricity Market

The Term-ahead Market comprising intra-day, contingency, daily and weekly contracts traded 823 MU during the month, registering 251 percent year-on-year growth. The Real-time Electricity Market achieved 2021 MU volume, a significant 43 percent year-on-year growth. The highest single-day volume of 96.6 MU was achieved on March 25.

For the fiscal year 2022, the conventional electricity market on the IEX achieved 90,817 MU, seeing 23 percent year-on-year growth. The day-ahead market achieved 65,151 MU volume, registering 7.8 percent year-on-year growth. The term-ahead market achieved 5,756 MU volume, seeing 74.2 percent year-on-year growth. The real-time market traded 19,910 MU, registering 110 percent year-on-year growth.

Green Market

The IEX Green Market, comprising the day-ahead and term-ahead market segments, achieved 392 MU volume during March. The Green Day-Ahead Market achieved 205 MU volume during the month with the weighted average price of Rs 6.7 per unit and saw participation from 173 market participants.

The Green Term-Ahead Market achieved 187 MU volume during the month and witnessed participation from 40 market participants. The average monthly price for solar was Rs 5.64 per unit while the average monthly price for non-solar electricity was Rs 5.08 per unit.

Key distribution utilities from states like Delhi, Himachal Pradesh, Haryana, Telangana, Karnataka, Bihar, Uttarakhand and Dadra Nagar Haveli as well as several industrial consumers also participated in the IEX’s Green Market during the month.

Cumulatively for the Fiscal Year 2022, the green market on the exchange achieved 4,854 MU volume sale, seeing 517 percent year-on-year growth.

REC Market

A total of 5.11 lakh RECs were cleared in the trading session held on March 30 on the IEX. The volume comprised 2.59 lakh non-solar RECs with clearing price at Rs 1,000 per REC and Rs 2.51 lakh solar REC with clearing price at Rs 2,250 per REC. The next REC trading session at the IEX is scheduled on April 27.

Cumulatively for the Fiscal Year 2022, the Renewable Energy Certificate Market at IEX achieved 60.78 lakh RECs equivalent to 6,078 MU.

Energy Saving Certificates (ESCERTs)

During the financial year 2022, the Energy Saving Certificates Market at the Exchange accomplished a cumulative trade of 286,142 ESCerts equivalent to 286 MU volume.

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