Indian Energy Exchange (IEX) has seen a year-on-year increase of 13.2 per cent in volume of electricity traded in Q2 of FY21.
Trading volumes in the said period were 16,486 million units (MU) as compared with 14,560 MU in the same period of FY20.
It may be noted that trading in renewable energy certificates (REC) could not take place during Q2 of FY21 owing to a stay order from Appellate Tribunal for Electricity (APTEL). Hence, the total volume of trading including REC, saw a subdued 3.8 per cent growth during Q2 of FY21.
DAM: The day-ahead market (DAM) on IEX continued to see robust volumes on the sell side. The sell volumes at 2.2 times of cleared volumes led to a 20 per cent year-on-year decline in power prices. The market witnessed average market clearing price of Rs.2.53 per unit during the quarter as compared to Rs.3.15 per unit in Q2 of FY20. This enabled distribution companies and industrial consumers to accrue significant savings. Attractive prices also led to a 39.5 per cent year-on-year YoY growth in open access volumes, IEX said.
G-TAM: IEX’s new market segment Green term-ahead market (G-TAM), launched on August 21, 2020, has witnessed encouraging response from distribution utilities, renewable generators as well as open access participants. The GTAM market saw cumulative volume of 75.01 MU during Q2 of FY21.
RTM: The real-time electricity market (RTM), launched on June 1, 2020, also continued to witness robust volume and traded 2,350 MU worth of volume in Q2 of FY21. On a cumulative basis, the RTM segment crossed the milestone of 3 billion units (BU) on October 6, 2020.
LDC: Indian Energy Exchange has filed a petition for the launch of Long Duration Contracts (LDC) in CERC and is awaiting commencement of proceedings and approval in the matter from the regulator.
Notes:
- Q1: quarter from April 1 to June 30
- Q2: quarter from July 1 to September 30
- FY20: financial year from April 1, 2019 to March 31, 2020
- FY21: financial year from April 1, 2020 to March 31, 2021
- MU: million units = million kwh
- BU: billion units = billion kwh = Gwh
Featured image for illustration only
