Indian Energy Exchange achieves 515.46 MU volume in June 2020

The Indian Energy Exchange announced that its Real Time Electricity Market has accomplished volume of 515.46 MU in the first month of June 2020. To help the market commence on a great start, the Exchange over last few months, engaged with distribution utilities, power generators as well as commercial and industrial consumers and assisted the stakeholders through capacity building sessions as well as provided technology applications and tools. A total of 237 customers participated in the new market segment during the first month.

Another key highlight of the newly commenced market segment was the single day highest volume of 36.09 MU on 30 June 2020 when 110 customers participated in the various auction sessions held over a day.

The double-sided closed auction ensured efficient price discovery, transparency, flexibility and a seamless trading experience for the market participants. The market saw a substantial sell-side liquidity at 1810 MU - 2.4 times of the buy volumes at 742 MU and competitive price discovery. Consequently, the average market clearing price was at Rs 2.22 per unit, lower than the day ahead market average price for June, at Rs 2.35 per unit. The attractive prices enabled great savings and good financial liquidity for the utilities as well as the open access consumers.

The market not only facilitated unrequisitioned surplus generation capacity find buyers but also facilitated generators to purchase power to fulfil obligations created due to outages. Setting a new precedent, two of our clients - Raipur Power and Raigarh Energy Generation became the first generators to have bought electricity to meet their commitment.

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