Indian Energy Exchange (IEX) achieved 8,760 MU volume in February 2022 comprising 7,695 MU in the conventional power market, 453 MU in the green power market and 612 MU in the REC Market. Overall, IEX achieved 29 per cent year-on-year volume growth across all market segments during the month.
Day-ahead Market
The Day-ahead Market volume at 5,612 MU saw a 9.5 per cent year-on-year growth with the average market clearing price at Rs.4.44 per unit seeing 31 per cent year-on-year increase mainly due to low generation from imported coal-based power plants on account of high imported coal prices as well as increase in the demand for power across states.
Term-ahead Market
The Term-ahead Market comprising intra-day, contingency, daily & weekly contracts traded 527 MU registering 22 per cent year-on-year growth.
Real-time Market
The Real-time Electricity Market achieved 1,556 MU volume achieving a significant 39 per cent year-on-year growth with the average monthly price at Rs.4.35 per unit. The highest single-day volume of 89 MU was achieved on February 22.
During February 2022, 519 participants transacted in IEX’s RTM market. The consistent growth in volumes in this market segment indicates the significance of this segment for both distribution utilities and industrial consumers in balancing real-time power demand-supply requirements.
IEX is planning to soon introduce trading in hydropower contracts in the Green Term-ahead Market.
Also read:CERC Directs IEX To Consult CEA On Cross-Border Trading
Green Market
IEX Green Market comprising the day-ahead and term-ahead market segments achieved 453 MU volume during February 2022.
The Green Day-Ahead Market achieved 191 MU volume with the weighted average price of Rs.4.78 per unit and saw participation from 188 market participants. The Green Term-Ahead Market achieved 262 MU volume and recorded participation from 51 market participants. The average monthly price for solar was Rs.3.93 per unit while the average monthly price for non-solar was Rs.4.72 per unit.
REC Market
A total of 6.12 lakh RECs were cleared in the trading session held on Wednesday, February 23, 2022 on the IEX. The volume comprised of 4.44 lakh non-solar RECs with clearing price at Rs.1,000 per REC and 1.67 lakh solar REC with clearing price at Rs..2,300 per REC. The next REC trading session at the Exchange is scheduled on Wednesday, March 30, 2022.
Note: MU = million units = million kwh = Gwh
