Indian Energy Exchange (IEX) recorded a 6 percent growth in overall volumes in April 2023, the inaugural month of FY24.
In a release, IEX said that it achieved 7,928 MU overall volume in April 2023 which was 6 percent higher than that in April 2022.
The price during April 2023 was Rs.5.41 per kWh, declining 46 percent year-on-year, from Rs. 10 per kWh in April 2022. This decline was due to improving supply-side scenarios leading to increased liquidity, as well as cooler weather conditions, IEX said.
Sell-side liquidity improved on IEX due to government initiatives to ensure adequate power supply during this summer season, including gas-based thermal power that was made available on IEX.
Trade commenced at the High Price DAM segment, with 193 MWh volume during the month. This segment allows high-cost generators, such as gas-based power generators, imported coal-based plants, and battery-energy storage systems, to sell electricity on the market.
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While the increase in power demand is expected in the coming months, supply-side liquidity is likely to be maintained due to improved coal supply. This will lead to competitive prices and higher clearance for discoms and Open Access consumers, IEX noted.
A total of 1.99 lakh RECs were cleared in the trading session at IEX held on April 26, 2023, with the cleared price of Rs.1,000 per REC. The next REC trading session on IEX is scheduled for May 31, 2023.
During April 2023, a total of 1.23 lakh ESCerts (equivalent to 123 MU) were traded on IEX, at the floor price of Rs.1,840 per ESCert.
