Electricity Market Achieves Highest Ever Monthly 47% YoY Growth at 7,434 MU

The electricity market at the Indian Energy Exchange achieved a new milestone in the month of January 2021 with all-time high volume of 7434 MU leading to a significant 47 per cent YoY growth in electricity volume traded during the month.

February 03, 2021. By Manu Tayal

The electricity market at the Indian Energy Exchange achieved a new milestone in the month of January 2021 with all-time high volume of 7434 MU leading to a significant 47 per cent YoY growth in electricity volume traded during the month.

According to the data published by the National Load Dispatch Center, the national peak demand touched 190 GW on January 30, 2021 seeing 11 per cent YoY growth while the energy consumption grew 4.7 per cent YoY during the month.

IEX electricity market continues to facilitate power demand-supply equilibrium in the country through its flexible, transparent, and efficient power procurement at the most competitive prices.

The distribution utilities and the open access consumers continue to leverage the exchange market to source competitively priced power as industry and economy gear up for revival post-COVID-19.

The accelerated focus on competition, efficiency, automation, consumer choice and technology in the power sector, as also mentioned by the Finance Minister in the Union Budget 2021-22, paves way for the key role the electricity markets will play in building a viable power sector.

The day-ahead market traded 5584 MU and saw a notable 17 per cent YoY growth in January 2021. The market registered ample availability of power with the total sell bids at 10074 MU being almost 2X of the cleared volume.

The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 524 MU volume during January 2021 recording a significant 93 per cent YoY increase.

The Green Term Ahead Market has been receiving promising response from the distribution utilities, renewable generators, and open access consumers. The market registered a volume of 92.4 MU during the month comprising 24 MU in solar segment and 68.4 MU in non-solar segment.

A total of 24 participants participated during the month with distribution utilities from Haryana, Bihar, New Delhi, West Bengal, Karnataka, and Telangana among others, as the key participants.

The REC trading session which was scheduled on January 27, 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 2020 regarding revision in the floor and forbearance prices of REC.

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