IEX Trades 7,322 MU in July, Achieves 37% Growth

The electricity market at the Indian Energy Exchange traded 7322 MU volume and achieved 37% YoY growth in July’21.

August 06, 2021. By News Bureau

The electricity market at the Indian Energy Exchange traded 7322 MU volume and achieved 37% YoY growth in July’21.
 
According to the power demand data published by the National Load Dispatch Center, the national peak demand on 7 July’21 at200.6GWwas highest ever registering a 17.6% YoY increase while the energy consumption at 125.5 BU grew 10.6% on a YoY basis. During the month, India’s manufacturing PMI rose to 3-month high at 55.3. With easing of lockdown restrictions, economic activities as well as power consumption accelerated.
 
While the increase in power demand has been contributing to the electricity volume growth at IEX, the Exchange’s role as the most flexible, competitive and transparent platform for power procurement for the distribution utilities and industries has been the most key aspect towards its increasing role and impact. Amidst the severe operational and financial challenges faced by the utilities and industries due to the CoVID-19 pandemic, the competitive power prices coupled with flexible procurement and a diverse spectrum of market segments have been enabling the participants to accrue significant financial savings.
 
The green term-ahead market (GTAM) performed exceptionally well this month, surpassing all the previous milestones.
 
The market traded the highest-ever volume of 726 MU in July’21seeing 76% MoM increase. The green term-ahead market also registered the highest-ever single day volume of 153.1 MU on 16th July 2021. Since the onset of wind season in April-May, the green market has been greatly enabling the distribution utilities to sell excess energy for the other deficit States to buy. In fact, July saw high wind generation in the country, with average wind generation recorded at 349MU per day, 64.5% higher than in 212 MU per day in 2020.
 
During the month, the market saw participation from 51 members which is the highest-ever since inception in August’20. It reflects growing traction in the green market as it becomes a key facilitator of competitively priced renewable energy procurement among distribution utilities and industrial consumers.
 
The market saw participation from distribution utilities from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Goa, Maharashtra, Punjab, DNH, Daman &Diu, Assam and Tamil Nadu among others.
 
The REC trading session which was scheduled on Wednesday 28 July 2021 did not take place due to a stay order from Appellate Tribunal for Electricity (APTEL), in response to the petitions filed by a few Renewable Energy Associations.
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