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IEX Achieves 7596 MU of Electricity Volume in May’22; Registers 16% YoY Growth

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Indian Energy Exchange recorded 7596 MU electricity volume in May 22. This included 6680 MU for the conventional power market and 642 MU for the green power market. In addition, 275 MU (2.75 Lac Certificates) was registered in the REC Market. The market segment saw 16% YoY growth.

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According to data from the National Load Dispatch Center on power demand, May 22nd saw 23% YoY growth in energy consumption at 136 BU and 21% YoY growth at 204.45 GW.

The Government took timely measures to address supply side issues and increased renewable (44% YoY) and hydropower generation (8%) respectively. Prices at IEX for the day-ahead power market saw significant corrections, dropping from Rs 10.06 per Unit in April’22 down to Rs 6.76 in May’22.

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

The Day-Ahead Market volume of 3173 MU experienced a 27% YoY increase with an average monthly price of Rs 6.76 per Unit. The market-clearing prices saw a 33% MoM decline since April 22nd, when the average monthly price was Rs 10,06 per unit.

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Real-Time Market volume at 2319.MU increased 61% over 1704.MU in April’22. On May 19, 22nd, the highest single-day volume was 104.39 MU. On a MoM basis, the average monthly marketclearing price of Rs 5.88 per unit fell by 38% In May, the RTM market saw 592 transactions.

The Term-Ahead Market, which includes intra-day, contingency and daily contracts, traded 1189 MU, registering 211% YoY growth.

GREENMARKET: DAY Ahead & TERM Ahead MARKET

IEX Green Market, which includes the Day-Ahead as well as Term-Ahead segments of the market segments, saw a 642 MU volume increase in May 22nd. This equates to 80% YoY growth.

The Green Day-Ahead Market saw participation of 172 participants and achieved 493 MU volume.

Green Term-Ahead Market reached 148 MU volume, and had the largest participation of 23 market participants on May 4. The average monthly price of Solar was Rs 6.41 while that for Non-Solar was at Rs 8.21.

The Exchange’s Green Market featured key distribution utilities from several States, including Haryana, Haryana and Karnataka, Maharashtra.

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RENEWABLE ENERGY CRITIFICATE MARKET

In the trading session held at IEX on Wednesday 25 May’22, 2.75 lacs RECs total were cleared. Volume included 1.71 Lacs Non-Solar RECs at Rs. 1,000 per REC, and 1.03 Lacs Solar RECs at Rs. 2201 per REC.

The Exchange will hold its next REC trading session on Wednesday, 29 June 2022.

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