Electricity trading on Indian Energy Exchange (IEX) touched 7,434 million units (MU) in January 2021, making it the all-time high monthly volume on IEX.
This volume was also 47 per cent higher than in January 2020. Also, “One Nation One Price” prevailed during all 31 days of the month.
According to the data published by National Load Dispatch Centre (NLDC), the national peak demand touched 190 GW on January 30, 2011 seeing 11 per cent year-on-year growth while the energy consumption grew 4.7 per cent year-on-year during the month, a release by IEX said.
IEX electricity market continues to facilitate power demand-supply equilibrium in the country through its flexible, transparent, and efficient power procurement at the most competitive prices.
The distribution utilities and the open access consumers continue to leverage the exchange market to source competitively priced power as industry and economy gear up for revival post-COVID-19. The accelerated focus on competition, efficiency, automation, consumer choice and technology in the power sector, as also mentioned by the Honorable Finance Minister in the Union Budget 2021-22, paves way for the key role the electricity markets will play in building a viable power sector.
Day-ahead market
The day-ahead market traded 5584 MU and saw a notable 17 per cent year-on-year growth in January 2021. The market registered ample availability of power with the total sell bids at 10,074 MU being almost 2X of the cleared volume.
The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 524MU volume during January 2021 recording a significant 93 per cent year-on-year increase.
Real time market
The real-time market registered highest ever monthly volume of 1,233 MU in Jan 2021 since commencement on June 1, 2020, achieving 9.2 per cent growth over December 2020. The market achieved highest-ever single day volume of 55.75 MU on January 18, 2021.
Green Market
The Green Term Ahead Market has been receiving promising response from the distribution utilities, renewable generators, and open access consumers. The market registered a volume of 92.4 MU during the month comprising 24 MU in solar segment and 68.4 MU in non-solar segment.
With prolonged pause in REC trading, the green market has emerged as a key support for obligated entities in meeting their Renewable Purchase Obligation targets. The market has traded 641 MU cumulatively since its launch on August 21, 2020, the release by IEX said.
REC Trading
The REC trading session which was scheduled on January 27, 2020 could not take place due to the stay order from APTEL in response to the petitions filed by a few Renewable Energy Associations against the CERC order of June 2020 regarding revision in the floor and forbearance prices of REC.
Note: MU = million units = million kwh = Gwh
(Featured photograph for illustration only)
