Indian Energy Exchange trade volume rises 24% to 9,035 mn units in December

Indian Energy Exchange (IEX) has registered a 24 per cent growth in trade volume to 9,035 million units (MU) in December across all market segments.

IEX achieved 9,035 MU volume in December, witnessing 24 per cent year-on-year growth, a company statement said.

According to the statement, IEX traded 9,035 MU cleared volume in December 2021, comprising 7,285 MU in the conventional power market; 365 MU in the green power market and 1,385 MU (13.85 lakh certificates) in the REC (renewable energy certificate) market.

Overall, the exchange achieved 24 per cent year-on-year volume growth in December 2021 across all its market segments, it added.

For the third quarter of fiscal 2022, IEX has recorded 27,677 MU volume and achieved 37 per cent year-on-year growth across all its market segments, it noted.

The day-ahead market volume at 5,423 MU saw a 15 per cent month-on-month increase and a 3 per cent year-on-year decline.

The average market clearing price at Rs 3.54 per unit in December 2021 witnessed a 15 per cent month-on-month and 25 per cent year-on-year rise.

For the third quarter of the fiscal year 2022, the day-ahead market traded 16,710 MU and registered a 5 per cent year-on-year growth.

On January 1, 2022, Bhutan commenced trade in the day-ahead market through Druk Green Power Corporation. Besides Nepal and Bhutan, IEX has been working with stakeholders in Bangladesh to facilitate its participation towards reinforcing the cross-border electricity trade and building an integrated South-Asian regional power market.

The term-ahead market comprising intra-day, contingency, daily and weekly contracts, traded 350 MU during the month. Cumulatively, for the third quarter, the term-ahead market traded a total of 878 MU and registered a 2 per cent year-on-year decline.

The real-time electricity market (RTM) achieved 1,512 MU volume and saw a significant 34 per cent year-on-year growth, with the average monthly price at Rs 3.61 per unit.

The highest single-day volume of 67.5 MU was achieved on December 3. For the third quarter, the market achieved a cumulative 4,822 MU volume and registered a robust 70 per cent year-on-year growth.

In December 2021, 557 participants transacted in the exchange's RTM market. The consistent growth in volumes in this market segment has been indicative of the significance of this segment for both distribution utilities and industries in balancing real-time power demand-supply requirements.

IEX Green Market comprises the day-ahead and term-ahead market segments.

During December 2021, 365 MU volume was traded and cleared in both segments. For the third quarter, the market achieved 1,194 MU volume registering a growth of 158 per cent year-on-year.

The Green Day-Ahead Market (GDAM) achieved 157 MU volume during December 2021, with the weighted average price of Rs 4.09 per unit and saw participation from 105 entities.

The Green Term-Ahead Market (GTAM) achieved 208 MU volume during December 2021 and witnessed a significant 131 per cent year-on-year growth, with participation from 39 entities.

Key distribution utilities from states, including Delhi, Himachal Pradesh, Haryana, Punjab, Uttar Pradesh, Telangana, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, West Bengal, and Assam, as well as several industrial consumers, participated in the exchange's green market during December 2021.

A total of 13.85 lakh renewable energy certificates were cleared in the trading session held on the Exchange on December 29, 2021.

The volume comprised of 11.3 lakh non-solar RECs with clearing price at Rs 1,000 per REC and 2.55 lakh Solar REC with clearing price at Rs 2,211 per REC.