Overall trading volumes on Indian Energy Exchange (IEX) recorded a 24 per cent year-on-year growth in December 2021, at 9,035 million kwh (million units or MU).
This total cleared volume comprises – conventional power market (7,285 MU), green power market (365 MU) and renewable energy certificate market (1,385 MU).
For the third quarter (September to December) of FY22, IEX recorded 27,677 MU volume and achieved 37 per cent year-on-year growth across all its market segments.
Day-ahead Market (DAM)
The day-ahead market (DAM) volume at 5,423 MU in December 2021 was 15 per cent higher over November 2021 but 3 per cent lower than in December 2020. The average market clearing price in DAM was Rs.3.54 per kwh. In Q3 of FY22, volumes on DAM were 5 per cent higher year-on-year, at 16,710 MU.
Cross border
On January 1, 2022, Bhutan commenced trade in the day-ahead market through Druk Green Power Corporation. Besides Nepal and Bhutan, IEX has been working with stakeholders in Bangladesh to facilitate its participation towards reinforcing the cross-border electricity trade and building an integrated South-Asian regional power market. (See related story)
Term-ahead Market (TAM)
The Term-ahead market (TAM) comprising intra-day, contingency, daily and weekly contracts traded 350 MU during December 2021. Cumulatively, for Q3 of FY22, TAM traded a total of 878 MU and registered a 2 per cent year-on-year decline.
Real-time Market (RTM)
The Real-time electricity market achieved 1,512 MU volume and saw a significant 34 per cent year-on-year growth with the average monthly price at Rs.3.61 per kwh. The highest single day volume of 67.5 MU was achieved on December 3, 2021. For Q3 of FY22, RTM achieved a cumulative 4,822 MU volume and registered a 70 per cent growth, year-on-year.
Green Market
IEX Green Market comprises both the day-ahead as well term-ahead market segments. During December 2021, a trading volume of 365 MU was clocked, across both segments. For the third quarter of FY22, the market achieved volume of 1,194 MU, registering a year-on-year growth of 158 per cent.
REC Trading
A total of 13.85 lakh renewable energy certificates (REC) were cleared in the trading session held on December 29, 2021, implying a total volume of 1,385 MU. The volume comprised of 11.3 lakh non-solar RECs with clearing price at Rs.1,000 per REC and 2.55 lakh solar RECs with clearing price at Rs.2,211 per REC. The next REC trading session on IEX is scheduled for January 26, 2022. [1 REC is equivalent to 1 MWh = 1000 kwh = 0.001 million kwh = 0.001 MU. Hence, 13.85 lakh RECs will correspond to 1,385 MU]
