The electricity market on the Indian Energy Exchange (IEX) achieved an all-time high volume of 8248.52 MU in March 2021, a release by IEX said.
Overall Performance in FY21
Despite subdued electricity demand during the first two quarters of FY21, the electricity market on IEX performed exceptionally well, the release noted. During FY21, volumes on the electricity market touched 73,941 MU, implying a growth of 37.2 per cent over FY20. IEX also recorded its highest ever traded volume in any fiscal year, in FY21.
The newly introduced market segments, namely RTM and GTAM (details ahead), together contributed 14 per cent of the total volumes traded on IEX in FY21.
NLDC Statistics: According to statistics released by National Load Dispatch Centre (NLDC), national peak demand in FY21 touched 190 GW — 3.5 per cent higher than in FY20. Electricity consumption in FY21, at 1,281 BU, was down 0.6 per cent, year-on-year.
Day-ahead Market (DAM)
In FY21, the day-ahead market (DAM) traded 60,416 MU, registering a year-on-year growth of 23 per cent. DAM saw ample availability of power during the year with sell-bids at 1.94 times the cleared volume, the release said.
Even though power consumption over the last six months revived significantly accompanied by the growth in the industrial and economic activities across the country, the average yearly price on the DAM, at Rs.2.82 per unit during FY21, was 6.2 per cent lower year-on-year.
Term-ahead Market (TAM)
TAM, comprising intra-day, contingency, daily and weekly contracts, traded a total of 3,272 MU in FY21.
Real-time Market (RTM)
RTM, launched on June 1, 2020, saw a total trading volume of 9,468 MU in FY21. In March 2021, RTM crossed the 1-billion-unit mark, for the fourth straight month. Volumes on RTM in March 2021, at 1,414 MU, were at their all-time monthly high. Besides, the highest-ever single-day trading level, at 63 MU, was recorded on March 23, 2021. Over 400 market participants were active on the RTM in March 2021, IEX said.
Green Term—ahead Market (GTAM)
Since its launch on August 21, 2020, GTAM witnessed total trading volume of 786 MU in FY21. In March 2021, a total of 24 participants, including distribution utilities from Haryana, Bihar, Uttar Pradesh, West Bengal, New Delhi, Karnataka, Telangana, and Maharashtra, were active on the GTAM platform. The market has been enabling distribution utilities, industrial consumers, and green generators to buy and sell green power while also supporting them in fulfilling their Renewable Purchase Obligation (RPO) targets, IEX said.
(Note: MU = million units = million kwh; BU = billion units = billion kwh = Gwh)
