Indian Energy Exchange (IEX) said that it has recorded 8245 MU electricity volume in January 2023, registering 9% year on year (YoY) growth.
On sequential basis, the company's electricity volume grew 4% month on month (MoM) in January 2023.IEX achieved 8639 MU total volume in January 2023, including Green Power trade of 347 MU, and 3.95 lac RECs (equivalent to 395 MU). The overall volume on the exchange during the month increased 2% MoM basis. The Exchange witnessed its highest volume in this fiscal year, due to improving supply side conditions, led by gradually increasing coal supply and easing e-auction coal prices. The volume has been steadily increasing month-on-month since November 2022.
Improving coal inventory at power plants due to the Government's proactive initiatives, is expected to lower clearing price on the Exchange in the coming months. This will provide further cost optimisation opportunities to Discoms and Open Access consumers, resulting in higher volumes on the Exchange.
According to the power demand data published by the National Load Dispatch Center, the energy met in the country during January 2023 was at 126 BU, increasing 13% on YoY basis.
The Day-Ahead Market volume decreased from 5001 MU in December 2022 to 4893 MU in January 2023, down 2% on MoM basis. The Day Ahead Market volume was lower by 7% on YoY basis due to high prices resulting from a constrained supply scenario, which led to high spot e-auction coal prices during the month as compared to the same month last year.
The real time electricity market achieved 2102 MU volume during the month, registering 33% YoY and 19% MoM growth. There were 707 participants in this segment during the month.
Term Ahead Market (TAM) comprising intra-day, contingency, daily & weekly contracts, and contracts upto 3 months, traded 902 MU during the month, an impressive increase of 131% on YoY basis and 10% on MoM basis.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 347 MU volume during January 2023, growing 24% on YoY basis.
The Green Day-Ahead Market achieved 286 MU volume with a weighted average price of Rs 6.30 per unit. The market saw participation from 208 market participants during the month, with the highest number of participants in a single day at 154 on 25 January 2023.
The Green Term-Ahead Market achieved 61 MU volume with an average monthly price of Rs 6.22/unit for non-solar and Rs 8.19/unit for hydro.
IEX said that a total of 3.95 lac RECs were cleared in the trading session at IEX held on Friday, 27 January 2023 as compared to 11.26 lac RECs in January 2022. The next REC trading session at the Exchange is scheduled on Wednesday, 22 February 2023.
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 shed 3.9% to Rs 77.22 crore on 14.7% declined in net sales to Rs 100.28 crore in Q3 FY23 over Q3 FY22.
The scrip rose 0.94% to Rs 139.50 on the BSE.
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