Power Exchange India Ltd (PXIL), whilst having completed twelve years of service on October 22, 2020, has notched up significant market share in electricity trading during the last few months.
Ever since the jump-start of Day Ahead Spot (DAS) from August 25, 2020, there has been consistent participation from the most active participants in the market. The price formation has demonstrated convergence, even with small volumes and despite the prices remaining volatile due to weather and other socio-economic factors, a release from PXIL noted.
In the Term Ahead Market (TAM) segment, cumulative volumes transacted in September 2020 stood at 472 MU resulting in market share of 82 per cent. The trend has continued in October as well. Similarly during the month, till October 18, 2020, the volume traded in TAM was 440 MU and in DAM, 29 MU.
PXIL Day Ahead Spot (DAS) contract is reflecting a renewed interest of market participants for competing yet converging prices in the segment. It is also a manifestation of the maturity of the market participants, who view competition as a pre-condition for deepening power markets. As the markets grow further, this need to avoid a monopoly and have competition in each and every segment of the market will accentuate further.
Prabhajit Kumar Sarkar, MD & CEO, PXIL said, “PXIL’s market leadership in the Term Ahead Market and its growing presence in the Day Ahead Spot segment demonstrate the value of competitive efficiency and choice in the power markets. We would continue to strive to be the first choice of our members and clients for transactions in the power market.”
CERC, in this foresight, has introduced the concept of Market Coupling, which essentially will lead to complete convergence in prices in Day Ahead Market, the release noted.
The coming months are poised to see resumption of trade in REC segment (trading was suspended owing to the order from APTEL in August), introduction of Green TAM and forward contracts. PXIL’s new trading platform PRATYAY has been very well accepted by Members and has been able to integrate and offer services such as, API integration, online KYC, GST invoicing module, dynamic contracts, etc. A host of other features such as continuous trading in intra-day segment are in the pipeline and will be offered to members on an on-going basis.
Featured photograph for illustration only
