Indian Energy Exchange achieved 7,805 MU (million units or million kwh) volume in August 2022, registering a 9 per cent growth over July 2022.
This comprised 6,517 MU in the conventional power market, 437 MU in the Green Power Market, and 851 MU (8.51 lakh certificates) in the REC Market. (See table)
The total volume in August 2022 was lower by 18 per cent on year-on-year basis. The average clearing price in Day Ahead market increased 2 per cent year-on-year, from Rs. 5.06 per unit in August 2021 to Rs.5.17 per unit in August 2022. The supply side constraints continued due to high prices of imported coal, fuel shortage and increased e-auction prices.
The Day-Ahead Market (DAM) volume at 3,529 MU, registered a flat growth on month-over-month basis. Although imported coal prices remained high, increased hydro and RE generation resulted in the market clearing price lowering by 5 per cent on MoM basis at Rs.5.17 per unit.
The Real-Time Electricity Market (RTM) achieved 2,265 MU volume during the month, registering 22 per cent year-on-year and 6 per cent month-on-month growth. The highest single-day volume of 104 MU was achieved on August 16, 2022.
The Term-Ahead Market (TAM), comprising intra-day, contingency, daily & weekly contracts, traded 723 MU during the month, registering 17 per cent year-on-year growth and 64 per cent month-over-month growth.
IEX Green Market, comprising the Green Day-Ahead (G-DAM) and Green Term-Ahead Market (G-TAM) segments, achieved 437 MU volume during August 2022.
The Green Day-Ahead Market achieved 321 MU volume with a weighted average price of Rs.5.20 per unit. The market saw participation from 157 market participants during the month, with the highest number of participants in a single day at 114 on August 10, 2022.
The Green Term-Ahead Market achieved 117 MU volume with an average monthly price of Rs. 3.57 per unit for solar, Rs 6.15 per unit for non-solar, and Rs. 5.47 per unit for hydropower.
Key distribution utilities from across states, including UP, Gujarat, Haryana, Karnataka, Delhi, Telangana, Daman & Diu, Dadra & Nagar Haveli, as well as several industrial consumers participated in the Exchange’s Green Market during the month.
Also read: In-Principle Approval For GDAC On Indian Energy Exchange
REC Market
A total of 8.51 lakh RECs, increase of 79 per cent MoM, were cleared in the trading session at IEX held on Tuesday, August 30, 2022. The volume comprised 4.18 lakh non-solar RECs with clearing price at Rs.1,000 per REC. Increased inventory of solar RECs saw the clearing price reaching floor-level at Rs.1,000 per REC, with 4.32 lakh Solar RECs traded during the month. The next REC trading session at the Exchange is scheduled on Wednesday, September 28, 2022.
