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IEX electricity volume up 36% YoY to 9,165 MU in Oct 2021

Capital Market 

Indian Energy Exchange (IEX) on Tuesday announced that it traded 9,165 MU electricity volume and achieved 36% year on year growth in October 2021.

On a sequential basis, the company's traded volume rose 1.8% in October 2021 from 8,997 MU traded in September 2021. Out of the total traded volume, 8792 MU came in power market and 373 MU came from green market.

The day-ahead market achieved 6,568 MU volume in October 2021 achieving 19.4% year on year growth. The market saw an average monthly price at Rs 8 per unit. The term-ahead market comprising intra-day, contingency, daily & weekly contracts traded 225 MU during the month.

The real-time electricity market traded 1,999 MU volume and saw a significant 145% YoY volume growth with the average monthly price at Rs 6.91 per unit. The consistent growth of real-time electricity market is an indication of growing reliance of the distribution utilities.

The green market at IEX now comprises of both the day-ahead and term-ahead contracts. The conventional and green day-ahead market is operated in an integrated manner. The exchange seeks bid for both conventional and renewable energy at the same time through distinct windows and separate price formation take place.

The green day-ahead market (GDAM) achieved 24.8 MU volume in the first six days since commencement of trade on 26 Oct 2021. The market discovered weighted average price of was Rs 3.8 per unit and about 56 participants participated in the first six days of trading. The Green Term-Ahead market (GTAM) achieved 347.7 MU volume seeing a significant 67% YoY growth. The market witnessed participation from 46 participants during the month.

The exchange commenced trade in the Energy Saving Certificates (ESCerts) under Perform, Achieve & Trade Cycle-II (PAT-II) on Tuesday, 26 October. In the first trade, the exchange accomplished trade of 43,409 ESCerts.

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). The company's consolidated net profit jumped 75.34% to Rs 77.73 crore on 55.64% increase in net sales to Rs 110.38 crore in Q2 FY22 over Q2 FY21.

Shares of IEX were trading 1.66% higher at Rs 746 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, November 02 2021. 15:10 IST