Indian Energy Exchange (IEX) achieved 7,392 million kwh (MU) volume of electricity traded in November 2022, representing a 9 per cent growth over the comparable level in November 2021.
This volume included 354 MU of green power trade. Adding the 3.72 lakh RECs, which is the equivalent of 372 MU, the total volume traded in November 2022 was 7,764 MU. This was 16 per cent lower year-on-year, on account of abnormally high volumes of RECs traded in November 2021 (at 24.4 lakh RECs or 2,440 MU). It may be recalled that trading in RECs resumed in November 2021 after an 16-month hiatus.
Conventional Market
The Day Ahead Market (DAM) clearing price was Rs.4.60 per unit in November 2022 as against Rs.3.08 per unit in November 2021, due to supply constraints caused by geopolitical factors. Despite the increased price, DAM volume increased 8 per cent year-on-year and 18 per cent on month-on-month basis, to reach 5,084 MU in November 2022.
The Real-Time Electricity Market (RTM) achieved 1,407 MU volume during the month, registering 7 per cent year-on-year growth. There were 678 participants in this segment during the month.
The Term-Ahead Market (TAM), comprising intra-day, contingency, daily and weekly contracts, and LDCs traded 547 MU during the month, growing by 81 per cent on year-on-year basis.
Green Market
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 354 MU volume during November 2022. The market saw participation from 178 market participants during the month, with the highest number of participants in a single day, at 125, on November 28, 2022.
Also read: CERC Approves Longer Duration Contracts On IEX
REC Market
A total of 3.72 lakh RECs were cleared in the trading session at IEX held on November 30, 2022. The volume comprised 0.68 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 3.03 lakh solar RECs traded during the month.
The next REC trading session at the Exchange is scheduled on Wednesday, December 28, 2022
