Spurred by the increasing demand for electricity across the various States, the electricity market at Indian Energy Exchange achieved an all-time high volume of 8248.52 MU in the month of March’21 surpassing all the previous milestones. The robust volumes led to a 92% YoY growth in electricity market during the month. According to the power demand data published by the National Load Dispatch Center, the national peak power demand touched 186 GW seeing a 9% YoY growth while the power consumption grew 23% YoY. The market faced transmission congestion on the inter-state transmission network due to which 24MU was lost during the month, representing 0.03% of total traded volume.
Cumulatively for the fiscal year 2021, the Exchange Market performed spectacularly well despite the CoVID-19 induced lock-down which resulted in the significant reduction in the demand for electricity in the country in the first two quarters of the year. The electricity market achieved all time high volume of 73,941 MU during the year leading to 37.2% YoY growth. The new market segments introduced during fiscal year 2021 – the real time market as well as the green market, made 14% contribution to the volume traded during the year. As per the NLDC data for fiscal year 2021, national peak demand for electricity at 190 GW saw 3.5 % growth while electricity consumption at 1,281 BU was down 0.6% YoY.
The phenomenal growth in electricity volumes on the Exchange platform during the month as well the fiscal year 2021 underlines the significant role of the Exchange market among the distribution utilities and the industrial consumers in facilitating the most competitive, flexible, and efficient power procurement.
The Green Term Ahead Market traded a volume of 51 MU during the month comprising 21 MU in the solar segment and 30 MU in the non-solar segment. A total of 24 participants participated during the month with distribution utilities from Haryana, Bihar, Uttar Pradesh, West Bengal, New Delhi, Karnataka, Telangana, and Maharashtra among others as the key participants. The market has been enabling distribution utilities, industrial consumers, and green generators to buy and sell green power while also supporting them in fulfilling their Renewable Purchase Obligation (RPO) targets in the most competitive way. The market has cumulatively traded 786 MU volume since its launch on 21 August’20
