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IEX Achieves 7574 MU Volume in April 2022

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According to a press release, the Indian Energy Exchange (IEX), achieved 7574 MU volume in the first month of its new fiscal year 2023. This included 6989 MU market in conventional power, 336 MU market in green power, and 249 MU (2.49 Lac Certificates) market segment in the REC market.

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Due to power supply constraints, volumes fell 1.7% compared to April 21. Clearing prices were also high across all market segments.

According to data from the National Load Dispatch Center on power demand, April 22nd saw an 11% YoY increase in energy consumption at 133 BU and 13% YoY growth at 207.11 GW.

The CERC had notified Fifth Amendment to the Open Access In Inter-State Transmission Regulations on March 21, 2022. It then approved Procedure concerning the National Open Access Registry, (NOAR), which is a central automated tech-based platform for open access. This will be hosted, operated, and implemented by POSOCO starting Sunday, May 1, 2022.

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IEX has successfully integrated its platform and NOAR’s on Sunday, May 1st 22 for all market segments – DAM (G-DAM), G-DAM RTM, TAM, TAM, G-TAM). This was a bold leadership move. Registering in NOAR is a prerequisite to both the collective and bilateral transactions in the short term power market. The NOAR will allow seamless communication, process simplification and greater transparency. This will enable greater efficiency and facilitate the development of the power market.

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

The Exchange has reflected the power supply side restrictions across all market segments. The total buy bids in the day-ahead market and the real-time market were almost 3X the amount of the sell orders at 7010 MU, while the cleared volume was at 581 MU. This led to an increase in power prices at IEX in both the conventional and green markets.

The Day-Ahead Market volume stood at 4114 MU for the month. The monthly average market clearing price of Rs 10.06 per unit experienced a 172% YoY rise.

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Real-Time Electricity Market reached 1704 MU volume, achieving a significant 16% YoY increase with an average monthly price of Rs 9.55 per Unit. April 30 saw the highest single-day volume, 98.97MU. 576 participants traded in the Exchange’s RTM Market during the month.

The Term-Ahead Market, which includes intra-day, contingency and daily contracts, traded 1171 MU, registering 236% YoY growth.

GREENMARKET: DAY Ahead & TERM Ahead MARKET

During April 22, the volume of 335 MU for IEX Green Market, which includes both Day-Ahead & Term-Ahead segments, was 335 MU.

The Green Day-Ahead Market saw 175 participants and a volume of 215 MU.

The Green Term Ahead Market reached 121 MU volume with participation from 46 market participants. The average monthly price of Solar was Rs 7.79, while that for non-solar was at Rs 11.41.

During the month, the Exchange’s Green Market was attended by key distribution utilities from States like Haryana, Kerala and Maharashtra as well as industrial consumers.

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RENEWABLE ENERGY CRITIFICATE MARKET

In the trading session held at IEX on Wednesday 27 April 222, a total of 2.49 Lacs RECs was cleared. Volume included 1.71 Lacs Non-Solar RECs at Rs 1000 per REC, and 0.77 Lacs Solar RECs at Rs. 2200 per REC. The Exchange will hold its next REC trading session on Wednesday, 25 May 2022.

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