Indian Energy Exchange (IEX) achieved 9,212 MU overall volume in March 2023. This was 12 percent higher than the comparable level in February 2023 but 4 percent lower on a year-on-year basis.
The price during March 2023 was Rs.5.25 per kWh, lower than 23 percent on February 2023, due to cooler weather conditions.
While high temperatures and increased demand are expected in the coming months, supply-side liquidity should improve due to the various conducive policy and regulatory initiatives announced by the Government to increase coal and gas-based generation. These are likely to result in improved sell-side availability on the Exchange, leading to competitive prices and higher clearance for discoms and Open Access consumers, IEX said in a release.
For the fiscal year ending March 31, 2023, IEX traded 96.8 BU. This was 5 percent lower than in FY22, despite highly constrained sell-side liquidity. This led to the price increasing by 35 percent on a YoY basis, in FY23.
Also read: IEX Becomes India’s First Carbon-Neutral Power Exchange
REC Market
A total of 8.69 lakh renewable energy certificates (RECs) were cleared in the trading session at IEX held on March 29, 2023, with the cleared price of Rs.1,000/REC, increasing 133 percent over last month. For FY23, total RECs traded were 59,65,430 (equivalent to 5,965 MU). The next REC trading session on IEX is scheduled on April 26, 2023.
Energy Saving Certificates
Trading of Energy Saving Certificates Market (ESCerts) under PAT Cycle II resumed on the IEX platform on February 14, 2023. In March 2023, a total of 22,881 ESCerts (equivalent to 23 MU) were traded on IEX. The ESCerts market at IEX accomplished a cumulative trade of 176,479 ESCerts (equivalent to 176 MU), during FY23.
