Indian Energy Exchange (IEX) on Monday announced that it has recorded 7,392 MU electricity volume in November 2022, registering a 9% year on year (YoY) growth.
The power exchange said that it achieved 7,764 MU total volume in November 2022, including Green Power trade of 354 MU, and 3.72 lac RECs (equivalent to 372 MU). However, the overall volume reduced 16% YoY, as the corresponding month last year had high REC volumes of 24.4 lacs to fulfil the pent-up demand caused by a 16-month gap of trading, the company said.
Improving coal inventory and onset of winters will lead to further price correction on the exchange, providing cost optimisation opportunities to Discoms and Open Access consumers, IEX stated.
According to the power demand data published by the National Load Dispatch Center, the energy consumption stood at 113 BU during November 2022, increasing 13% on YoY basis.
IEX's Day-Ahead Market clearing price was Rs 4.60 per unit as against Rs 3.08 per unit in the previous corresponding year, due to supply constraints caused by geopolitical factors. Despite the increased price, the Day-Ahead Market volume reached 5,084 MU in November 2022, increasing 8% YoY and 18% on month on month (MoM) basis,
The Real-Time Electricity Market achieved 1,407 MU volume during the month, registering 7% YoY growth. There were 678 participants in this segment during the month.
The Term-Ahead Market (TAM), comprising intra-day, contingency, daily & weekly contracts, and LDCs traded 547 MU during the month, recording a growth of 81% on YoY basis.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 354 MU volume during November 2022 while declining 12% on MoM basis.
The Green Day-Ahead Market achieved 288 MU volume with a weighted average price of Rs 4.31 per unit. The market saw participation from 178 market participants during the month, with the highest number of participants in a single day at 125 on 28 November 2022.
The Green Term-Ahead Market achieved 66 MU volume with an average monthly price of Rs 5.01 per unit for solar, Rs 5.66 per unit for non-solar.
IEX said that a total of 3.72 lacs RECs were cleared in the trading session held on Wednesday, 30 November 2022. The volume comprised 0.68 lacs non-solar RECs with clearing price at Rs 1,000 per REC. Increased inventory of solar RECs saw the clearing price reaching floor-level at Rs. 1000 per REC, with 3.03 lacs Solar RECs traded during the month.
In November 2021, IEX had achieved 24.4 lacs REC trade, after it resumed trading in the REC market after a gap of almost 16 months, following Central Electricity Regulatory Commission (CERC) order dated 18 November 2021. The next REC trading session at the exchange is scheduled on Wednesday, 28 December 2022.
IEX is India's premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.
The company's consolidated net profit declined 8.4% to Rs 71.20 crore on 13.8% decrease in net sales to Rs 95.20 crore in Q2 FY23 over Q2 FY22.
Shares of Indian Energy Exchange rose 0.87% to Rs 151.50 on the BSE.
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