IEX rises after decent biz update for June

Indian Energy Exchange (IEX) gained 2.58% to Rs 391.85 after the company traded 7,093 MU of electricity volume in June 2021 recording a 48% year on year growth.

Cumulatively for the first quarter of fiscal year 2022, the exchange market witnessed a robust performance despite the CoVID-19 induced lock-down restrictions. The electricity market achieved the volume of 21,340 MU during the first quarter resulting in 44% YoY growth. Amidst growing power consumption in the country, distribution utilities and industries are increasingly relying on IEX electricity market to source power in the most competitive, efficient, sustainable, and flexible manner.

The day-ahead market traded 4314 MU volume in the month of June 2021 with the average monthly price at Rs 3.06 per unit. IEX said sell-bids at two times of the cleared volume during the month of June 2021 ensured ample availability of power and discovery of competitive prices thereby providing optimization opportunities to the distribution utilities. For the first quarter of the year 2022, the day-ahead market on the exchange, traded 14,377 MU and registered 7% YoY growth.

The term-ahead market comprising intra-day, contingency, daily & weekly contracts traded 641 MU during the month recording a 539% YoY growth. Cumulatively, for the first quarter, the term-ahead market traded a total of 1,372 MU and registered 54% YoY growth. The real-time electricity market continued to show exceptional performance with the highest ever monthly volumes of 1,726 MU at an average monthly price of Rs 3.02 per unit. The trade volume saw a significant 235% YoY growth and 20% MoM.

The green term-ahead market also saw the highest ever monthly volume being traded in June'21. With a volume of 412 MU during June'21, the market saw 15% growth over the previous month led by the ongoing wind season. For the first quarter, the market has registered a cumulative trade volume of 955 MU, already surpassing the total green volumes achieved in FY 2021. IEX said that the green term-ahead market is witnessing a growing increase in participation and has become a key facilitator of green power trade among distribution utilities, industrial consumers, and green generators offering the most competitive and viable avenue.

IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates).

On a consolidated basis, IEX reported 35.1% jump in net profit to Rs 61.5 crore on 26% rise in total revenue to Rs 100.3 crore in Q4 FY21 over Q4 FY20.

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