Indian Energy Exchange (IEX) recorded a 16 per cent year-on-year growth in electricity trading volumes, across all segments, in May 2022.
In a release, IEX said that it achieved 7,596 million kwh (million units or MU) of electricity volume in May 2022. This comprised of 6,680 MU in the conventional power market, 642 MU in the green power market, and 275 MU (2.75 lakh certificates) in the REC market..
Owing to the various timely measures undertaken by the Government to address the supply side constraints, and increased renewable (44 per cent year-on-year increase) and hydropower generation (8 per cent), the day-ahead power market at IEX saw significant correction in the prices which reduced from Rs.10.06 per unit in April 2022 to Rs.6.76 per unit in May 2022.
Conventional Market
DAM
The Day-Ahead Market (DAM) volume at 3,173 MU saw a year-on-year decline of 27 per cent during the month with the average monthly price at Rs.6.76 per unit. The market-clearing price saw a month-over-month decline of 33 per cent since the average monthly price was much higher at Rs.10.06 in the month of April 2022.
RTM
The Real-Time Market (RTM) volume, at 2,319 MU in May 2022, grew 61 per cent from 1,704 MU in April 2022. The highest single-day volume of 104.39 MU was achieved on May 19, 2022. The average monthly market-clearing price at Rs.5.88 per unit saw a decline of 38 per cent on a month-over-month basis.
TAM
The Term-Ahead Market (TAM) comprising intra-day, contingency, daily & weekly contracts traded 1,189 MU registering 211 per cent year-on-year growth in May 2022.
Green Market
IEX Green Market comprising the Day-Ahead and Term-Ahead market segments achieved 642 MU volume during May 2022, evincing 80 per cent growth over May 2021. The Green Day-Ahead Market achieved 493 MU volume with the weighted average price of Rs.5.91 per unit and saw participation of 172 entities during the month.
The Green Term-Ahead Market achieved 148 MU volume and recorded the highest number of participants, at 23, on May 4, 2022. The average monthly price for solar was Rs.6.41 per unit while that for non-solar was Rs.8.21 per unit.
Distribution utilities from states including Delhi, Haryana, Telangana, Karnataka, Maharashtra, Punjab, Daman & Diu, Gujarat and Uttar Pradesh as well as several industrial consumers participated in the Exchange’s Green Market during the month.
REC Market
A total of 2.75 lakh RECs were cleared in the trading session at IEX held on May 25, 2022. The volume comprised 1.71 lakh non-Solar RECs with a clearing price of Rs.1,000 per REC and 1.03 lakh solar RECs with a clearing price of Rs.2,201 per REC. (1 REC corresponds to 1,000 kwh or 0.001 MU). The next REC trading session on IEX is scheduled on June 29, 2022.
