HomeInvestment & Trading ›IEX Achieves 8,452 MU Total Volume in Dec 2022

IEX Achieves 8,452 MU Total Volume in Dec 2022

The Indian Energy Exchange (IEX) achieved 8,452 MU total volume in December 2022, including green power trade of 377 MU, and 4.87 lac Renewable Energy Certificates (RECs) (equivalent to 487 MU). 

January 03, 2023. By Manu Tayal

The Indian Energy Exchange (IEX) achieved 8,452 MU total volume in December 2022, including green power trade of 377 MU, and 4.87 lac Renewable Energy Certificates (RECs) (equivalent to 487 MU). 
 
IEX Green Market, comprising the Green Day-Ahead Market (GDAM) and Green Term-Ahead Market (GTAM) segments, achieved 377 MU volume during December 2022, growing 2 per cent on YoY basis. For Q3, the market achieved 1,130 MU volume, registering a decline of 6 per cent YoY.
 
The GDAM achieved 241 MU volume with a weighted average price of Rs 5.24 per unit. The market saw participation from 212 market participants during the month, with the highest number of participants in a single day at 153 on December 21, 2022. 
 
The GTAM achieved 137 MU volume with an average monthly price of Rs 5.20/unit for Solar, Rs 5.54/unit for Non-Solar and Rs 5.81/unit for Hydro.
 
Although, the total electricity volume on the exchange in December 2022 was 7,964 MU, an increase of 4 per cent YoY. The overall volume on the exchange in December 2022 increased by 9 per cent on MoM basis. However, it declined by 7 per cent on YoY basis due to high REC traded volumes of 13.85 lacs in the previous year. 
 
For Q3 2023, IEX has recorded 24.2 BU volume and achieved 5 per cent QoQ growth across all its market segments. 
 
Continuing high spot e-auction coal prices and supply side constraints led to the average clearing price in the Day-ahead market rising to Rs 5.23 in December, which was 14 per cent higher on MoM basis and 48 per cent higher on YoY. 
 
Improving coal inventory at power plants is expected to result in lower clearing prices on the exchange and is expected to provide further cost optimization opportunities to Discoms and Open Access consumers, resulting in higher volumes on the exchange.
 
According to the power demand data published by the National Load Dispatch Center (NLDC), the energy met at 121 BU during December ’22, increased 10% on YoY basis.
 
A total of 4.87 lac RECs were cleared in the trading session at IEX held on December 28, 2022, as compared to 13.85 lac RECs last year in December. The next REC trading session at the Exchange is scheduled on January 25, 2023.
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