The electricity market at Indian Energy Exchange (IEX) traded an all-time high volume of 7,260 MU during December 2020, witnessing an 52 per cent year-on-year growth during the month.
According to the data published by the National Load Dispatch Center (NLDC), the national peak demand in December 2020 saw a 7 per cent year-on-year increase while the energy consumption registered 5 per cent.
On December 30, 2020, when peak demand touched 182.9 GW, IEX electricity markets contributed to a significant 6.9 per cent of the peak demand met.
Day-ahead Market
The day-ahead market traded 5606 MU of electricity and registered 29 per cent year-on-year growth during the month. The total sell bids at 10,814 MU were almost twice that of the cleared volume implying ample availability of the power in the market.
This consequently led to an attractive average market clearing price of Rs 2.83 per unit which saw a 3 per cent year-on-year decline. One-Nation, One-Price prevailed during all the 31 days of the month.
Real TIme Market
The RTM market registered an all-time high-volume of 1,129 MU in December 2020 since commencement on 1 June 2020 and achieved 26 per cent month-over-month growth in volume. The highest volume traded on a single day was 51.34 MU on December 4, 2020. The market saw robust sell-side liquidity which was twice the buy side volume and it ensured attractive average market price of Rs 2.94 per unit.
During the month, the market saw participation from 344 participants with highest number of participants on a single day at 180.
Over the last six months, the market has cumulatively traded 5703 MU of electricity. The market has been successfully facilitating utilities and open access consumers in addressing demand- supply variations in the most dynamic and efficient manner with delivery at just 1-hour notice.
Green Market
The Green Term Ahead Market registered a volume of 90 MU comprising 68 MU in solar and 22 MU in non-solar. The month of December also saw launch of two new contracts – Green Daily Contracts and Green Weekly Contracts.
With an encouraging participation from distribution utilities, renewable generators and open access consumers, the green market has emerged as a key avenue for obligated entities to fulfil Renewable Purchase Obligation (RPO). Since its launch on August 21, 2020, the market has cumulatively traded over 549 MU volume.
Renewable Energy Certificates
The REC trading session which was scheduled on December 30, 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 dated June’20 regarding revision in the floor and forbearance prices of REC.
Source: IEX Press Release
Note: MU = million units = million kwh = Gwh
