The Indian Energy Exchange, India's premier energy exchange, 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 total electricity volume on the Exchange in January '23 at 8245 MU, saw an increase of 9% on YoY and 4% on MoM basis. The overall volume on the Exchange during the month was 8639 MU, an increase of 2% on MoM basis. In January '23, the Exchange witnessed its highest volume in this fiscal year, due to improving supply side conditions, led by gradually increasing coal supply and easing eauction coal prices. The volume has been steadily increasing month-on-month since November '22.
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'23 was at 126 BU, increasing 13% on YoY basis.
ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET
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The Day-Ahead Market volume decreased from 5001 MU in December 2022 to 4893 MU in January '23, i.e 2% degrowth 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. The consistent growth of real-time electricity market is an indication of its effective utilisation by distribution utilities and industries to balance their power demand-supply in real-time in the most efficient manner.
The 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.
GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 347 MU volume during January '23, 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 25th January.
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.
RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)
A total of 3.95 lac RECs were cleared in the trading session at IEX held on Friday, 27th January'23 as compared to 11.26 lac RECs in January '22. The next REC trading session at the Exchange is scheduled on Wednesday, 22nd February '23.
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