IEX Achieves 9477 MU Volume in November Seeing 54% YoY Growth

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The Indian Energy Exchange realized 9477 MU cleared volume in November’21 comprising 6333 MU in the Conventional Power Market, 457 MU in the Green Power Market and 2687 MU in the Certificate Market comprising ESCerts and REC. Overall, the Exchange realized 53.8% YoY growth across all its market segments.

According to the power demand data published by the National Load Dispatch Center, the national peak demand at 166.19 GW saw 3.2 % YoY growth during the month while the energy consumption at 100.4 BU saw 2.1% YoY growth.

The Day-ahead Market achieved 4719 MU volume in November’21 seeing a 3% YoY decline. The average monthly price at Rs. 3.1 per unit saw a significant 62% MoM price reduction mainly due to increased liquidity on the supply-side with the sell-bids at 1.8X of the cleared volume. This ensured ample availability of power and competitive price of power thereby providing optimization opportunities to the distribution utilities.

The Term-ahead Market comprising intra-day, contingency, daily & weekly contracts traded 302.7 MU during the month and recorded 23.4% YoY growth.

The Real-time Electricity Market achieved 1311 MU volume seeing a significant 47% YoY growth. The average monthly price was at Rs 3.48 per unit. The highest single-day volume of 56.16 MU was achieved on 18 November with 554 participants transacting in the market. The real-time electricity market has been seeing consistent growth in volumes since its inception in June’20 as the market has been successfully facilitating the distribution of utilities and industries in real-time demand-supply balancing in the most efficient and flexible manner.

The Green Market at IEX comprising of both the day-ahead and term-ahead contracts achieved a cumulative volume of 457 MU during the month. The Green Day-ahead Market achieved 149.46 MU volume during the month with the weighted average price of Rs 3.72 per unit. The market saw participation from about 93 participants in the first full month of operations since commencement on 26 October’21.

The Green Term-Ahead Market achieved 307 MU volume with a significant 94% YoY growth. The market saw participation from 29 participants including participation from the key distribution utilities from states such as West Bengal, Haryana, Telangana, Karnataka, Delhi and Punjab.

The Exchange achieved a total of 24.4 lacs Renewable Energy Certificates trade in November comprising 21.90 lacs Non-Solar RECs and 2.53 lacs Solar REC. A price of Rs.
2000 for Solar REC, and Rs 1000 per REC for the non-solar RECs was discovered at the Exchange

During November’21, the Exchange accomplished trade in 242,733 ESCerts, registering a trading volume of 242.73 MU.

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