Home » IEX Electricity Market Trades Register 76% YoY Growth in Oct

IEX Electricity Market Trades Register 76% YoY Growth in Oct

IEX Electricity Market Trades Register 76% YoY Growth in Oct

The Indian Energy Exchange (IEX) traded electricity volume of 6743 million units (MU) in October, witnessing a significant 76 per cent YoY increase. The national peak demand in the same period saw a 6 per cent YoY increase and the energy consumption recorded a 12 per cent YoY increase, according to the Power System Operation Corp. (POSOCO) data.

The day-ahead market volume at 5501 MU during the month saw a 62 per cent YoY growth. Although the buy bids at 6163 MU saw a 57 per cent YoY increase in volume during the month, the market continued to witness high sell-side liquidity with the total sell bids at 9804 MU being 1.8 times of the cleared volume.

Moreover, despite the increase in buy bids, the average market clearing price at Rs 2.74 per unit saw only a slight increase of 1 per cent on a YoY basis and 2 per cent on an MoM basis.

‘One Nation, One Price’ was achieved during 29 days of the month. The market saw minor congestion due to forced outage of transmission lines during the month mainly towards the import of power by the southern states.

The trading in the term-ahead market stood at 219 MU for the month with several utilities increasing trading in weekly and daily contracts.

Real-time Market
The real-time electricity market (RTM) registered a total trade of 814 MU during October, registering a 16 per cent growth on an MoM basis. The rise in trade volume was also accompanied by increased participation. October witnessed 326 market participants during the month and an increase in average participation by nearly 11 per cent over the previous month.

RTM registered the highest volume traded on a single day stood at 44.54 MU on October 14. Further, the highest number of participants transacting in a single day was 166 on three separate days, i.e., on October 7, 19 and 29.

During the month, the sell bids and buy bids volume stood at 2199 MU and 1078 MU respectively. With the sell-side liquidity at nearly twice the buy-side, the market discovered a competitive average clearing price at Rs 2.69 per unit.

On a cumulative basis, the real-time electricity market has traded a volume of 3680 MU in the first five months since its inception on June 1.

Green Market
The recently launched Green Term Ahead Market (GTAM) continued to witness an increasingly exciting response from the utilities, consumers as well as renewable generators. During October, the market recorded a trading volume of 208 MU representing a significant 151 per cent growth on an MoM basis. The trading in solar energy at 173 MU dominated the non-solar trade.

The market saw participation from 25 participants during the month. The highest single-day participation of 18 was recorded on October 16 and 28. The key participants included utilities from West Bengal, Haryana, Dadar & Nagar Haveli, Daman & Diu and Delhi among others.

IEX commenced trading in the green contracts on August 21 and has accomplished a cumulative trade of 300+ MU. Presently, the market offers trading in intraday and day-ahead contingency contracts in both solar and non-solar segments.

Renewable Energy Certificates
The renewable energy certificate (REC) trading session that was scheduled on October 28 could not take place due to the stay order from the Appellate Tribunal for Electricity (APTEL) in response to the petitions filed by a few renewable energy associations against the CERC order dated June 2020 regarding revision in the floor and forbearance prices of RECs.

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