IEX Posts 17.7% Rise In Nove Power Trade; Lower DAM, RTM Prices Aid Discoms

Indian Energy Exchange (IEX) said on Wednesday its electricity market volumes rose 17.7% year-on-year to 11,409 million units (MU) in November, driven by higher hydro, wind and solar generation.

Real-time market (RTM) volumes rose 40.2% to 4,233 MU, the exchange said in a statement. The average RTM price fell 9.2% year-on-year to 3.14 rupees per unit, while the Day-Ahead Market (DAM) price declined 6.9% to 3.07 rupees per unit.

Government data for November showed India’s power consumption at 123.4 billion units, down nearly 1% from a year earlier. Increased renewable energy output boosted liquidity on the exchange and pushed market prices lower, IEX said.

Lower prices allowed state distribution companies and commercial and industrial consumers to replace higher-cost power with exchange-based procurement, it added.

Electricity Market Performance

DAM volumes rose 0.3% year-on-year to 5,668 MU in November.
RTM volumes surged to 4,233 MU from 3,019 MU a year earlier.
Day-Ahead Contingency and Term-Ahead Market trades, including HPTAM and contracts of up to three months, rose sharply to 693 MU from 202 MU, up 243.1% year-on-year.

Green Market

The Green Day-Ahead and Green Term-Ahead segments traded a combined 815 MU, marginally lower than 818 MU a year earlier. The weighted average Green Day-Ahead Market price was 3.29 rupees per unit.

REC Market

IEX said 474,000 Renewable Energy Certificates (RECs) were traded in sessions held on Nov. 12 and Nov. 26, at clearing prices of 370 rupees and 364 rupees per REC respectively. REC volumes declined 13.1% year-on-year.

The next REC trading sessions are scheduled for Dec. 10 and Dec. 31.