Hindustan Power Exchange Ltd (HPX) successfully concluded its first e-Reverse Auction (e-RA) based long duration contract on February 12, 2023.
The first e-RA trade on HPX’s platform was executed between Indian Railways (buyer) and Jindal Power Ltd (seller).
“Due to the efficient price discovery and ease of conducting auctions, the single side e-RA has become a preferred choice for buyers across the country. With innovative contract designing and payment security, the success ratio of these auctions has improved and led to increase in participation from power generating companies,” HPX said in an official statement.
Highest single-day volume
HPX also traded its highest single day volume of 36.18 MU on February 12, 2023. Within a short span of around 7 months, India’s third power exchange has already garnered more than 55 per cent share in the contingency/intra-day market segment and has around 450 market participants, HPX said.
The volumes under contingency segment on HPX have seen a sizeable pickup since launch with total settlement of more than Rs.2,500 crore on the platform till date.
Also read: HPX Crosses 1 Billion Units Of Power Trading
Diverse options
HPX presently offers trading in contingency contracts, Green Contingency contracts, Long Duration Contracts, Term Ahead Market (TAM), Renewable Energy Certificates (REC), Energy Saving Certificates (ESCerts), Day Ahead Market (DAM), Green Day Ahead Market (G-DAM) & Real Time Market (RTM).
Trading in the last three aforementioned segments — DAM, G-DAM and RTM — is yet to gather momentum, HPX said. The exchange is steadily increasing its product portfolio and is set to provide a wide range of contracts to address the demand of different segments of the electricity market, HPX added.
