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IEX Achieves 8760 MU Volume in Feb 22; Seeing 29% YoY Growth

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The Indian Energy Exchange achieved 8760 MU volume in February’22 comprising 7695 MU in the conventional power market, 453 MU in the green power market and 612 MU (6.12lac Certificates) in the REC Market. Overall, the Exchange achieved 29% YoY volume growth across all market segments during the month.

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According to the power demand data published by the National Load Dispatch Center, the energy consumption at 105.5 BU saw 2.2% YoY growth while the national peak demand at 193.6 GW saw 3% YoY growth during Feb’22.

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

The Day-ahead Market volume at 5612 MU saw a 9.5% YoY growth with the average market clearing price at Rs 4.44 per unit seeing 31% YoY increase mainly due to low generation from imported coal based power plants on account of high imported coal prices as well as increase in the demand for power across States.

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The Term-ahead Market comprising intra-day, contingency, daily & weekly contracts traded 527 MU registering 22% YoY growth.

The Real-time Electricity Market achieved 1556 MU volume achieving a significant 39% YoY growth with the average monthly price at Rs 4.35 per unit. The highest single-day volume of 89 MU was achieved on February 22.

During February’22, 519 participants transacted in the Exchange’s RTM market. The consistent growth in volumes in this market segment indicates the significance of this segment for both distribution utilities and industrial consumers in balancing real-time power demand-supply requirements.

GREEN MARKET: DAY-AHEAD & TERM-AHEAD MARKET

IEX Green Market comprising the day-ahead and term-ahead market segments achieved 453 MU volume during February’22.

The Green Day-Ahead Market achieved 191 MU volume with the weighted average price of Rs 4.78 per unit and saw participation from 188 market participants.

The Green Term-Ahead Market achieved 262 MU volume and recorded participation from 51 market participants. The average monthly price for Solar was Rs 3.93 per unit while the average monthly price for non-solar was Rs 4.72 per unit.

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The key distribution utilities from States including Delhi, Himachal Pradesh, Haryana, Telangana, Karnataka, Daman & Diu, and West Bengal as well as several industrial consumers participated in the Exchange’s Green Market during the month.

In an order dated February 24, the Central Electricity Regulatory Commission (CERC) has granted approval to the Exchange to introduce hydropower contracts in the Green Term-Ahead Market (GTAM). This move will facilitate the compliance of Hydropower Purchase Obligation (HPO) by the obligated entities. In the proposed contracts, participants would be able to trade under Intra-day, Day-ahead Contingency, Daily and Weekly contracts.

RENEWABLE ENERGY CERTIFICATE MARKET

A total of 6.12 lacs RECs were cleared in the trading session held on Wednesday, 23 February’22 on the Exchange. The volume comprised of 4.44 lacs Non-Solar RECs with clearing price at Rs 1,000 per REC and 1.67 lacs Solar REC with clearing price at Rs. 2300 per REC. The next REC trading session at the Exchange is scheduled on Wednesday 30 March 2022.

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