IEX Electricity Market Trades 5675 MU in Sept’20 Registering 45% Increase

The electricity market at the Indian Energy Exchange traded a volume of 5675 MU in September’20 seeing a significant 45 per cent YoY increase while the national peak demand in the same period saw a 2 per cent YoY increase and energy consumption recorded a 4.6 per cent YoY increase, according to the data published by the NLDC.

October 05, 2020. By Manu Tayal

The electricity market at the Indian Energy Exchange traded a volume of 5675 MU in September’20 seeing a significant 45 per cent YoY increase while the national peak demand in the same period saw a 2 per cent YoY increase and energy consumption recorded a 4.6 per cent YoY increase, according to the data published by the NLDC.

The day-ahead market cleared volume of 4781 MU during the month. The market continued to witness high sell side liquidity with the total sell bids at 9669 MU being more than twice of the cleared volume.

With robust sell side liquidity, the average market clearing price at Rs 2.69 per unit saw a decline of 3 per cent on a YoY basis over Rs 2.77 per unit in September’19 helping both the distribution utilities and industries to accrue significant financial savings.

The attractive prices and ample availability supported the southern, western and northern state distribution utilities to leverage the Exchange market for meeting their short-term electricity requirements as well as for replacement of costlier power in order to optimize their overall cost of power procurement.

One Nation One Price prevailed during all 30 days of the month making Exchange the most reliable platform for power procurement. The trade in the term-ahead market stood at 107 MU for the month.

Besides, the real-time electricity market (RTM) registered a total trade of 704 MU during September’20. The market saw 41.76 MU as the highest volume being traded on a single day on September 02, 2020.

During the month, the sell bids were at 2159 MU and the buy bids were at 924 MU. With sell side at nearly 2.3 times the buy side, the average market discovered at Rs 2.52 per unit was attractive for buyers. On a cumulative basis, the market has achieved a volume trade of 2865 MU in the first four months since inception on 1 June 2020.

Also, the market has been seeing continuous increase in the participation since it facilitates the utilities and industries in managing real-time power requirements in the most efficient, and competitive manner with delivery of power at just 1-hour notice.

The REC trading session which was scheduled on September 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 2020 regarding revision in the floor and forbearance prices of RECs.

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