IEX Electricity Market trades 6743 MU volume in October’20

The Indian Energy Exchange-traded electricity volume of 6743 MU in October’20 witnessing a significant 76% YoY increase. The national peak demand in the same period saw a 6% YoY increase and the energy consumption recorded a 12% YoY increase, according to the data published by the POSOCO. This trend indeed reinforces IEX positioning as the most preferred platform for the distribution utilities and the open-access consumers for meeting their power requirements most competitively and efficiently.

The day-ahead market volume at 5501 MU during the month saw a 62% YoY growth. Though the buy bids at 6163 MU saw a 57% YoY increase in volume during the month, the market continued to witness high sell-side liquidity with the total sell bids at 9804 MU being 1.8 times of the cleared volume. 

Moreover, despite the increase in buy bids, the average market clearing price at Rs. 2.74 per unit saw only a slight increase of 1% on YoY basis and 2% on MoM basis This has ensured that both the distribution utilities and industries accrue significant financial savings while leveraging the Exchange market for increasingly meeting their short-term electricity requirements at low cost.

REAL-TIME MARKET

The real-time electricity market (RTM) registered a total trade of 814 MU during October’20 registering a 16% growth on MoM basis. The rise in trade volume was also accompanied by the increased participation – October’20 witnessed 326 market participants during the month and an increase in average participation by ~11% over the previous month. RTM facilitates utilities and open access consumers in balancing the real-time demand-supply variations most efficiently, with the delivery of power at just a 1-hour notice making it desirable amongst the utilities.

RTM registered highest volume traded on a single day stood at 44.54 MU on 14th October’20. Further, the highest number of participants transacting in a single day was 166 on three separate days i.e. on 7th, 19th and 29th of October’20. 

During the month, the sell bids and buy bids volume stood at 2199 MU and 1078 MU respectively. With the sell-side liquidity at nearly twice the buy-side, the market discovered competitive average clearing price at Rs 2.69 per unit.

On a cumulative basis, the real-time electricity market has traded a volume of 3680 MU in the first five months since inception on 1st June 2020. 

GREEN MARKET

The recently launched Green Term Ahead Market (GTAM) continued to witness an increasingly exciting response from the utilities, consumers as well as renewable generators. During October, the market recorded a trading volume of 208 MU representing a significant 151% growth on MoM basis. The trade-in solar energy at 173 MU dominated the non-solar trade.

The market saw participation from 25 participants during the month. The highest single-day participation of 18 was recorded on 16th and 28th of October’20. The key participants included utilities from West Bengal, Haryana, Dadar & Nagar Haveli, Daman & Diu and Delhi among others.