IEX Trades 7093 MU in June’21 with 48% YoY Growth

The Indian Energy Exchange (IEX) traded 7093 MU of electricity volume in June’21 recording 48% YoY growth. According to the power demand data published by the National Load Dispatch Center, the national peak demand saw a 16% YoY increase, with the highest ever peak demand at 191.51 GW, while energy consumption at 115 BU grew 8% YoY. The growth has been powered b relaxations from COVID-19 related lockdowns across the country along with peak summer season and heatwave in Northern India. an erratic monsoon is likely to keep demand up. 

Cumulatively for the first quarter of the fiscal year 2022, the Exchange Market witnessed a robust performance despite the CoVID-19 induced restrictions. According to a stock report, the electricity market achieved a volume of 21,340 MU during the first quarter, resulting in 44% YoY growth. 

The report claims that distribution utilities and industries are increasingly relying on the IEX electricity market to source power .

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GREEN MARKET

The young Green term-ahead market (GTAM) also saw the highest ever monthly volume being traded in June’21. With a volume of 412 MU during June’21, the market saw 15% 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 FY 2021. 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 energy generators .

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.

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RENEWABLE ENERGY CERTIFICATES

The REC trading session scheduled on 30 June’21 did not occur due to a stay order from Appellate Tribunal for Electricity (APTEL), in response to the petitions filed by a few Renewable Energy Associations. The next hearing on the matter on APTEL is scheduled to be held on the 5th, 7th, and 9th of July 2021.

DAY-AHEAD, TERM-AHEAD & REAL-TIME ELECTRICITY MARKET

The day-ahead market traded 4314 MU volume in June’21 with the average monthly price at Rs 3.06 per unit. The sell-bids at 2X of the cleared volume during June’21 ensured ample availability of power and discovery of competitive prices thereby providing optimization 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% YoY growth.

The term-ahead market comprising intra-day, contingency, daily & weekly contracts traded 641 MU during the month recording a 539% YoY growth. Cumulatively, for the first quarter, the term-ahead market traded a total of 1372 MU and registered 54% YoY growth.

The real-time electricity market continued to show exceptional performance with the highest ever monthly volumes of 1726 MU at an average monthly price of Rs 3.02 per unit. The trade volume saw a significant 235% YoY growth and 20% MoM. The market also recorded the highest ever volume in a single day with 80 MU traded on 22nd June. In the first quarter, the market has done a cumulative trade of 4,635 MU. The consistent growth of the real-time electricity market is an indication of the growing reliance of distribution utilities and industries on the market to address their power demand-supply balancing in real-time at competitive prices.