The volume of electricity traded on the Indian Energy Exchange (IEX) recorded a 76 per cent year-on-year increase in October 2020, a release by the exchange said.
The national peak demand in the same period saw a 6 per cent y-o-y increase and the energy consumption recorded a y-o-y increase of 9 per cent, 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 in the most competitive and efficient manner,” the IEX statement observed.
Day Ahead Market (DAM)
The day-ahead market (DAM) volume at 5,501 MU during the month saw a 62 per cent y-o-y. Though the buy bids at 6,163 MU saw a 57 per cent y-o-y increase in volume during the month, the market continued to witness high sell side liquidity with the total sell bids at 9,804 MU being 1.8 times of the cleared volume.
Despite the increase in buy bids, the average market clearing price at Rs.2.74 per unit saw only a slight y-o-y increase of 1 per cent and 2 per cent on month-over-month 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.
One Nation One Price
One Nation One Price was achieved during 29 days of the month. The market saw minor congestion due to forced outage of transmission lines during the month mainly towards the import of power by the Southern States.
Real Time Market (RTM)
The real-time electricity market (RTM), introduced on IEX on June 1, 2020, registered a total trade of 814 MU in October 2020, registering a 16 per cent growth on MoM basis. The rise in trade volume was also accompanied by increased participation. October 2020 witnessed 326 market participants, around 11 per cent higher over September 2020. RTM registered its highest volume traded on a single day stood on October 14, 2020, at 44.54 MU.
Green Term Ahead Market (GTAM)
GTAM, launched on August 21, 2020, continued to witness an increasingly exciting response from the utilities, consumers as well as renewable generators. During October 2020, the market recorded a trade volume of 208 MU representing a significant 151 per cent growth on a month-over-month basis. The traded volume included 173 MU of solar energy.
REC trading suspension continues
The REC (Renewable Energy Certificate) trading session that was scheduled on October 28, 2020, could not take place due to the stay order from APTEL in response to the petitions filed by a few renewable energy associations against the CERC order of June 2020 regarding revision in the floor and forbearance prices of RECs.
