Indian Energy Exchange (IEX) achieved 7972 MU (million units or million kwh) volume in October 2022 that was 13 per cent lower, year on year. This was on account of a high volume base recorded in October 2021.
In a release, IEX said that the total electricity trading volume of 7972 MU in October 2022 included green power trade of 403 MU and 358 MU worth of renewable energy certificates (REC).
The year-on-year decline in October 2022 was largely on account for high volume base of last year. Further, due to lower REC trading, volume in October 2022 was 2 per cent lower than in September 2022.
The average clearing price in the day-ahead market was Rs.3.83 per kwh in October 2022, which was lower by 32 per cent on month-over-month basis and 52 per cent that in October 2021.
Going forward, further correction in prices due to improvement in coal availability and reduction in demand due to onset of winters, will provide opportunity for cost optimization by Discoms and Open Access consumers, resulting in increased volumes on IEX, the release said.
Also read: IEX Starts Trading In Energy Saving Certificates
Here are some more details, based on the various IEX markets
- The Day Ahead Market (DAM) clearing price was Rs.3.83 per unit as against Rs. 5.63 per unit in September 2022. As a result, the DAM volume increased by 7 per cent from 4,050 MU in September 2022 to 4,325 MU in October 2022,.However, DAM volume was lower by 34 per cent on year-on-year basis due to high volume base of last year.
- The Real-Time Electricity Market (RTM) achieved 2,265 MU volume during October 2022, registering 13 per cent year-on-year growth. The highest single-day volume of 124 MU was achieved on October 6, 2022. There were 630 participants in this segment during the month.
- The Term-Ahead Market (TAM), comprising intra-day, contingency, daily & weekly contracts, and LDCs traded 621 MU during October 2022 grew by an impressive 176 per cent on year-on-year basis.
- IEX Green Market, comprising the Green Day-Ahead (G-DAM) and Green Term-Ahead Market (G-TAM) segments, achieved 403 MU volume during October 2022, growing 10 per cent year-on-year.
- G-DAM achieved 293 MU volume with a weighted average price of Rs.4.02 per unit. G-TAM achieved 110 MU volume with an average monthly price of Rs.3.77 per unit for solar and Rs.5.45 per unit for non-solar.
- A total of 3.58 lakh RECs were cleared in the trading session at IEX held on Wednesday, October 26, 2022. The volume comprised 1.76 lakh 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.1,000 per REC, with 1.82 lakh solar RECs traded during the month. The next REC trading session at IEX is scheduled for Wednesday, November 30, 2022.
