IEX Power Market Achieves All-Time High of 92% Growth at 8249 MU in March’21 on Increased Consumption

Spurred by the increasing demand for electricity across various States, the electricity market at Indian Energy Exchange (IEX) achieved an all-time high volume of 8248.52 MU in the month of March’21 surpassing all the previous milestones. The robust volumes led to a 92% YoY growth in the electricity market during the month.

April 07, 2021. By Manu Tayal

Spurred by the increasing demand for electricity across various States, the electricity market at Indian Energy Exchange (IEX) achieved an all-time high volume of 8248.52 MU in the month of March’21 surpassing all the previous milestones. The robust volumes led to a 92% YoY growth in the electricity market during the month.

According to the power demand data published by the National Load Dispatch Center, the national peak power demand touched 186 GW seeing a 9% YoY growth while the power consumption grew 23% YoY. The market faced transmission congestion on the inter-state transmission network due to which 24MU was lost during the month, representing 0.03% of total traded volume.

Cumulatively for the fiscal year 2021, the Exchange Market performed spectacularly well despite the CoVID-19 induced lock-down which resulted in the significant reduction in the demand for electricity in the country in the first two quarters of the year. The electricity market achieved all time high volume of 73,941 MU during the year leading to 37.2% YoY growth.

The Green Term Ahead Market traded a volume of 51 MU during the month comprising 21 MU in the solar segment and 30 MU in the non-solar segment. A total of 24 participants participated during the month with distribution utilities from Haryana, Bihar, Uttar Pradesh, West Bengal, New Delhi, Karnataka, Telangana, and Maharashtra among others as the key participants. The market has been enabling distribution utilities, industrial consumers, and green generators to buy and sell green power while also supporting them in fulfilling their Renewable Purchase Obligation (RPO) targets in the most competitive way. The market has cumulatively traded 786 MU volume since its launch on 21 August’20.

The Renewable Energy Certificates (REC) trading session which was scheduled on 31 March’21 did 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. During fiscal year 2021, the renewable energy certificate market cumulatively traded a 6.97 lakh certificates. 

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