IEX power trade volume grows nearly 54% to 9,477 MU in November

Electricity trade volume at Indian Energy Exchange (IEX) rose nearly 54 per cent year-on-year in November this year to 9,477 million units (MUs).

"The Indian Energy Exchange realized 9,477 MU cleared volume in November 2021 comprising 6,333 MU in the Conventional Power Market, 457 MU in the Green Power Market and 2687 MU in the Certificate Market comprising ESCerts and REC. Overall, the exchange realised 53.8 per cent YoY growth across all its market segments," an IEX statement said.

The Day-Ahead Market achieved 4,719 MU volume in November seeing a 3 per cent YoY decline. The average monthly price at Rs. 3.1 per unit saw a significant 62 per cent month-on-month (MoM) price reduction mainly due to increased liquidity on the supply-side with the sell-bids at 1.8X of the cleared volume.

This ensured ample availability of power and competitive price of power thereby providing optimisation opportunities to the distribution utilities.

The Term-Ahead Market comprising intra-day, contingency, daily and weekly contracts traded 302.7 MU during the month and recorded 23.4 per cent YoY growth.

The Real-time Electricity Market achieved 1311 MU volume seeing a significant 47 per cent YoY growth. The average monthly price was at Rs 3.48 per unit. The highest single day volume of 56.16 MU was achieved on November 18 with 554 participants transacting in the market.

The Real-time Electricity Market has been seeing consistent growth in volumes since inception in June 2020 as the market has been successfully facilitating the distribution utilities and industries in real-time demand-supply balancing in the most efficient and flexible manner.

The Green Market at IEX comprising of both the day-ahead and term-ahead contracts achieved a cumulative volume of 457 MU during the month.

The Green Day-ahead Market achieved 149.46 MU volume during the month with the weighted average price of Rs 3.72 per unit. The market saw participation from about 93 participants in the first full month of operations since commencement on October 26, 2021.

The Green Term-Ahead Market achieved 307 MU volume with a significant 94 per cent YoY growth. The market saw participation from 29 participants including participation from the key distribution utilities from states such as West Bengal, Haryana, Telangana, Karnataka, Delhi and Punjab.

In line with regulatory developments as well as the CERC Order dated 18 November 2021, IEX resumed trading in the REC market on Wednesday, 24 November 21 after a gap of almost 16 months. The market traded 2444.35 MU in terms of total volume.

The exchange received a great response with participation from over 800+ participants who had been eagerly waiting for the resumption in order to meet their RPO and voluntary obligation.

The Exchange achieved a total of 24.4 lacs Renewable Energy Certificates (REC) trade in November comprising 21.90 lacs Non-Solar RECs and 2.53 lacs Solar REC. A price of Rs 2,000 for Solar REC, and Rs 1,000 per REC for the non-solar RECs was discovered at the exchange platform.

IEX commenced trade in the Energy Saving Certificates (ESCerts) under Perform, Achieve and Trade Cycle-II on October 26, 2021.

During November, the exchange accomplished trade in 242,733 ESCerts, registering a trade volume of 242.73 MU.

The trade has been paused until 31 December 2021 as per the directions dated November 25, 2021, issued by the Ministry of Power.