IEX spurts on reporting 50% YoY volume growth in Feb

Indian Energy Exchange (IEX) rose 1.85% to Rs 303.55 after the company's electricity market reported a volume of 6769 million units (MUs) in February 2021, registering a year-on-year growth of 50%.

"The robust growth in volume indeed indicates that exchange's electricity market being clearly positioned as the most preferred option for distribution utilities and the industrial consumers to source electricity for addressing the demand-supply balance as well as to optimize power procurement portfolio at the competitive price and in an utmost flexible and transparent manner," IEX said.

According to the data published by the National Load Despatch Center, the national peak demand at 188 GW registered 2.17% YoY growth while the average daily electricity consumption increased 3.31% YoY in February 2021. One Nation One Price prevailed during all 28 days of the month.

The day-ahead market traded 5124 MU volume and saw a notable 19.5% YoY growth in February 2021. The real-time market traded 1118.45 MU volume in February 2021. Since its launch on 1 June 2020, the real-time market has cumulatively traded 8054 MU.

The Green Term Ahead Market traded a volume of 93.72 MU during the month comprising 37.5 MU in solar segment and 56 MU in non-solar segment. The market has cumulatively traded 735 MU volume since its launch on 21 August 2020.

The REC trading session which was scheduled on 24 February 2021 did not take place due to the stayorder from APTEL in response to the petitions filed by a few Renewable Energy Associations against the CERC order dated June 2020 regarding revision in the floor and forbearance prices of REC.

IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates andenergy saving certificates.

IEX's consolidated net profit grew by 39.5% to Rs 58.14 crore on 42.8% rise in net sales to Rs 85.23 crore in Q3 FY21 over Q3 FY20.

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