The electricity market at India Energy Exchange (IEX) recorded a total trade of 4,768 million units (MU) in December 2019. The market witnessed a 51 per cent YoY and 25 per cent MoM increase in traded volumes on the back of demand from distribution utilities.
The increase in traded volumes on the power trading platform was largely due to a surge in demand from the northern as well as the southern states. The intense cold wave during the month led to a spike in demand in several states.
The day-ahead market traded 4,333 MU with an average market clearing price at nearly Rs 2.93 per unit vs. Rs 3.3 in December 2018, an 11 per cent decline in price. In the DAM market, total monthly sell bids were 10,195 MU while buy bids were 5,260 MU. Sell bids at nearly two times of the buy bids coupled with lower clearing prices signified that the market remained attractive for both the distribution utilities as well as open access buyers.
On December 26, the Renewable Energy Certificate (REC) market at IEX saw a total trade of 360,000 renewable energy certificates. This comprised 318,000 non-solar and 41,000 solar RECs.