Leverage Flexibility Offered by the Exchange to Meet Power Demand: IEX

The COVID 19 crisis has seen a 25% dip in national peak power demand from 165 GW in pre-lockdown period to 125 GW during lockdown. Management of such a large -scale variation warrants greater flexibility to readjust generation, despatch, and distribution to accommodate foreseeable and unplanned demand-supply disparity

April 20, 2020. By News Bureau

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The Indian Energy Exchange (IEX) has highlighted the importance of leveraging flexibility offered by energy exchanges to ensure adequacy of power to meet fluctuating domestic demand in current times.

The COVID 19 crisis has seen a 25% dip in national peak power demand from 165 GW in pre-lockdown period to 125 GW during lockdown. Management of such a large -scale variation warrants greater flexibility to readjust generation, despatch and distribution to accommodate foreseeable and unplanned demand – supply disparity.

IEX’s 15-min trading blocks allows the distribution utilities to procure power as per the changing demand during 96 different time blocks in a single day.  For instance, on 14 April a southern distribution utility procured 345 MW during a time block and ramped up to 1800 MW during another time block.

“The lockdown has led to increased variation in power demand across the country. A mismatch in demand and supply during any part of the day can disrupt availability of power to critical sectors of healthcare, communication, utilities and related businesses besides homes,” said Rajiv Srivastava, Managing Director and CEO, IEX Ltd.  “Flexibility of trading in blocks of 15 minutes helps the ecosystem stabilise their demand - supply schedule using our advanced forecasting techniques on a real time basis in a most efficient, optimised way.” he added.

IEX earlier announced its commitment to assuring 24X7 access to its platform to facilitate uninterrupted power supply to the nation.

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