Electricity trade rose 36% to 9,165 million units in October 2021 at the Indian Energy Exchange compared to 6743 MU last year’s same month. The day-ahead market (DAM) achieved 6,568 MU volume last month, logging 19.4% year-on-year growth. The market saw an average monthly price of ₹8per unit, IEX said in a statement.
In the first fortnight, the average price was ₹12 per unit. However, with various supply-side interventions initiated by the government such as improved domestic coal availability and prompt intervention by railways to enhance the supply of coal to power plants, the price corrected to ₹4.1 per unit in the second fortnight.
In fact, in the last week of the month, the power price further corrected to ₹3.4 per unit, IEX said.”In October’21 the electricity market at the Indian Energy Exchange traded 9,165 MU volume with 8,792 MU in the power market and 373 MU in the green market, achieving 36% YoY (year on year) growth (compared to 6,743MU October 2020),” it said.
The term-ahead market (TAM) comprises intra-day, contingency, daily &weekly contracts traded 225 MU during the month. The real-time electricity market traded 1,999 MU volume and saw a significant 145% YoY volume growth with the average monthly price at₹6.91 per unit.
The consistent growth of the real-time electricity market is an indication of the growing reliance on distribution utilities and industries to achieve power demand-supply balancing in real-time in the most efficient manner, it stated. The green market at IEX now comprises both the day-ahead and term-ahead contracts. During the month, the market achieved 372.4 MU volume in both segments.
The green day-ahead market (GDAM) achieved 24.8 MU volume in the first six days since the commencement of trade on October 26. The market discovered the weighted average price was ₹3.8 per unit and about 56 participants participated in the first six days of trading.
The Green term-ahead market (GTAM) achieved 347.7 MU volume, registering a significant 67% YoY growth. The market witnessed participation from 46 participants last month with key distribution utilities from WestBengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Maharashtra, Punjab, Tamil Nadu and Madhya Pradesh, and DVC. The green market has seen an exciting response from the participants as more and more utilities and C&I (commercial and industrial) consumers participate in the market to meet their energy and RPO requirements in an integrated, flexible, and competitive manner.
Exchange commenced trade in the Energy Saving Certificates (ESCerts)under Perform, Achieve & Trade Cycle-II (PAT-II) on October 26, 2021. In the first trade, it accomplished a trade of 43,409 ESCerts. The trade will take place every Tuesday.
