The electricity market at the Indian Energy Exchange (IEX) achieved a new milestone with a record all time high monthly volume of 9,538 MU in August 2021. This was 74 per cent higher than that in August 2020.
In a release, IEX observed that while on the one hand, growth in the economic and industrial activities led to the increase in demand for power on the other hand the supply side constraints such as high cost of imported coal and LNG as well as lower wind power generation led to the increase in the electricity prices discovered on IEX.
The market however continued to work uninterrupted facilitating the distribution utilities and industries in addressing the increased power demand in the most flexible, competitive, transparent, and efficient manner, IEX said.
Here is a summary of trading across various markets on IEX, in August 2021:
- The day-ahead market traded 6,649 MU volume during the month with average price of electricity at Rs 5.06 per kwh. The market saw 48 per cent year-on-year growth.
- The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 617 MU during the month recorded 401 per cent year-on-year growth.
- The real-time electricity market continued to see exceptional performance with the monthly volumes of 1,859 MU seeing a significant 116 per cent year-on-year growth. The average monthly price of the market was Rs 4.64 per kwh.
- On August 21, 2021, the Green Market segment completed one year and achieving a cumulative volume of around 2,867 MU since commencement on August 21, 2020. During the month, the greenmarket segment traded 412.94MU volume comprising 146.85 MU under solar segment and 266.09 MU under non-solar segment. The market saw Rs.3.56 per kwh as the average price in solar, and Rs.4.85 per kwh in the non-solar segment. The overall average price was Rs 4.21 per kwh.
Also read: Vedanta Aluminium Makes Largest Green Power Purchase On IEX
REC suspension continues
The Renewable Energy Certificate (REC) trading session which was scheduled on Wednesday 25 August 2021 did not take place due to a stay order from Appellate Tribunal for Electricity (APTEL), in response to the petitions filed by a few renewable energy associations.
(Note: MU = million units = million kwh = Gwh)
