IEX achieved 9,212 MU of overall volume in March 2023, Power Prices Average Rs 5.25/Unit

Highlights :

  • The Indian Energy Exchange reports a 7 percent rise in volume in Q4 compared to Q3 in the Financial Year 2023.
  • IEX claims to culminate FY23 with 96.8 Billion Unit volume across all market segments
IEX achieved 9,212 MU of overall volume in March 2023, Power Prices Average Rs 5.25/Unit

The Indian Energy Exchange (IEX) on Tuesday claimed that it achieved 9,212 Million Units (MU) of overall volume in March 2023. It included green market trade of 391 MU, 8.69 lakh Renewable Energy Certificates (REC), equivalent to 869 MU, and 22,881 ESCerts (equal to 23 MU). 

The power exchange claimed that its overall volume during the month was 12 percent higher on MoM basis while it witnessed a 4 percent decline on YoY basis. It said that in March, the power price stood at Rs 5.25/unit, 23 percent lower on MoM basis. IEX now expects an increase in supply-side liquidity in the coming days.

“While high temperatures and increased demand are expected in the coming months, supply-side liquidity should improve due to the various conducive policy and regulatory initiatives announced by the government to increase coal and gas-based generation. These are likely to result in improved sell-side availability on the Exchange, leading to competitive prices and higher clearance for Discoms & Open Access consumers,” it said in a statement.

The power exchange venture claimed that during the Q4 of FY 23, it registered a growth of 7 percent over the previous quarter with the achievement of 26,052 MU. For FY23, IEX reported a total traded power volume of 96.8 BU, reporting a de-growth of 5 percent YoY basis. IEX said that this was against the highly constrained sell-side liquidity, which also witnessed price increases by 35 percent on YoY basis.

Nevertheless, IEX said that in the Day-Ahead Market (DAM), the volumes increased to 4745 MU on March 23 against 4664 MU reported in February. It grew 2 percent on MoM basis, reportedly due to the favourable prices. On the other hand the DAM segment alone registered a total of 14,301MU during the Q4 of FY23. 

The Real-Time Electricity Market (RTM) achieved 2,098 MU volume during March 2023, registering 22 percent growth MoM basis, while it was able to report 5,914 volumes during Q4 of FY 23, an increase of nine percent over the Q3 of FY23. 

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