Hindustan Power Exchange Ltd (HPX) has successfully crossed the milestone of 5 billion units (BU) of power traded, an official release said. This was attained within 11 months of launch.
HPX was able to cross this landmark with a rapid increase in trade volume across Contingency and Long Duration Contracts (LDC) segments. The strong growth in members/client base and trading volumes demonstrate the trust and support the platform has been able to garner from power sector participants.
HPX raced to 5 BU within a span of 173 days with a daily average volume of 18 MU, post-crossing the historic landmark of 1 BU, which happened within a time frame of 171 days. A large part of this volume is attributed to the LDCs which were introduced on the HPX platform in the month of February.
HPX successfully executed the very first electronic reverse auction (e-RA) contract for the Indian Railways that witnessed encouraging participation from generators. Since then 75 e-RA tenders have been floated on HPX with a successful contract award in 16 such contracts, indicating a success ratio of 21.3 per cent as against an industry average of around 10 per cent, the release said.
Over 550 market participants
With over 550 market participants now on-boarded, HPX now has almost all the major players across the country on its platform and is poised for an increased market presence in the coming months. Backed by the latest technology and a series of innovative features, the fastest power exchange of India promises to offer speed, transparency, and better price discovery in the execution of trades. HPX garnered a market share of ~35 per cent in April 2023, in the Term Ahead Market (TAM) segment.
Also read: Hindustan Power Exchange Crosses 100 MU Of Power Trading
Multiple segments
HPX presently offers trades in all segments of Collective and Continuous transactions including but not limited to Contingency & Green Contingency contracts, Intra-day, Weekly, Monthly, and Any-day contracts in the Term Ahead Market (TAM) along with e-RA based Long Duration contracts for up to 90 days. The exchange offers trading in Renewable Energy Certificates (REC) and ESCerts (Energy Saving Certificates) contracts. The Day Ahead Market (DAM), Green Day Ahead Market (G-DAM) and Real Time Market (RTM) are also live at HPX.
