Page 2 - Indian Energy Exchange

IEX total trade volume jumps 18% to 9,136 million units in November

The Indian Energy Exchange (IEX) on Monday posted 17.5 per cent growth in its overall trade volume to 9,136 million units (MU) in November 2023 as compared to the year-ago period. The exchange had recorded total trade volume of 7,764 MU in November 2022, as per IEX data. "IEX achieved 9,136 MU overall volume, including 7.55 lakh Renewable Energy Certificates (RECs) (equivalent to 755 MU), marking a 17.5 per cent increase on YoY (year-on-year) basis," an IEX statement said. IEX achieved 8,371 MU total electricity volume in November 2023, registering an increase of 13 per cent on YoY basis. Market clearing price in Day Ahead Market (DAM) during November 2023 was Rs 3.98 per unit, down 13 per cent year-on-year, due to various factors including lower demand owing to festive season, temperature drop and improved sell side liquidity on the exchange, it stated. Price on the exchange has been experiencing a downward trend and the average monthly price is at its lowest level this financia

Indian Energy Exchange to acquire 10% in Enviro Enablers India Pvt Ltd

EEIPL, through this deal will be able to augment the value offering of its Material Waste Platform (MWP)

Indian Energy Exchange's overall trade volume grew to 9,147 MU in Sept

Indian Energy Exchange (IEX) logged around 13 per cent growth in overall trade volume to 9,147 million units (MU) in September. It reported an overall trade volume of 8,116 MU in the year-ago period, an IEX statement said on Wednesday. IEX achieved 9,147 MU overall volume, including green market trade of 230 MU, 5.15 lakh RECs (Renewable energy certificates, equivalent to 515 MU) and 1.06 lakh ESCerts (energy saving certificates, equivalent to 106 MU). According to the statement, the overall volume traded during the month increased 13 per cent on a Year-on-Year (YoY) basis. The demand momentum witnessed in August 2023 continued in September 2023, it stated. For the second quarter of the fiscal year 2023 (July-September), the IEX achieved 26,533 MU, resulting in 15 per cent YoY growth across market segments. The Day-Ahead Market (DAM) achieved 3,467 MU volume in September. The average market clearing price was Rs 6.23 per unit in September as compared to Rs 5.63 per unit in Septem

More than 100 paper mills likely to come under PAT scheme: IPMA official

More than 100 paper mills are expected to come under the energy efficiency scheme Perform Achieve and Trade (PAT) by next year as players are adopting technology to reduce their energy footprint, an industry body said on Wednesday. The paper industry has reduced its specific energy consumption by 20 per cent in the last five years, the Indian Paper Manufacturers Association (IPMA) said in a statement. Integrated paper mills in India are generating over 40 per cent of the power consumption by utilising the biomass from the pulping process, the IPMA said. "More than 100 paper mills are expected to come under the ambit of the PAT scheme in the next one year, IPMA Vice President Vadiraj Kulkarni said in his address at Paper Tech 2023. Specific water and energy consumption is being reduced continuously to lessen the carbon footprint, he added. IPMA said it has welcomed the government's Carbon Credit Trading Scheme 2023 under which an Indian Carbon Market would be constituted. The exis

Food security to hydrogen transport: Formats exist for IMEC's success

India's initiatives have already laid some of the groundwork for the proposed infrastructure corridor

HDFC Bank, Adani Ent, IEX among 6 stocks to cross 200-DMA in last 2 days

Overall, as many as 464 stocks among the Nifty 500 were seen trading above the 200-DMA highlighting the underlying positive sentiment in the market.

IEX trade volume rises over 13% to 8,865 million units in August

Indian Energy Exchange's total trade volume rose by over 13 per cent year on year to 8,865 million units in August. The total trade volume of IEX stood at 7,805 million units (MU) as per its data. "IEX attained 8,865 MU overall volume, including green market trade of 242.3 MU, ancillary market trade of 40MU, 2.53 lakh RECs (equivalent to 253 MU) and 1.03 lakh ESCerts (equivalent to 103 MU)," an IEX statement said. The overall volume traded during the month increased to 13.3 per cent on YoY (year on year) basis. IEX achieved 8,469 MU total electricity volume in August 2023, registering an increase of 21 per cent on YoY basis, the statement said. In August 2023, the country experienced its lowest August rainfall since 1901, resulting in hot weather conditions. This, in turn, led to an unprecedented surge in electricity demand during the month, it explained. Due to the combination of higher demand and supply constraints, prices on IEX during the month reached Rs 6.89/unit, marking a

Indian Energy Exchange net profit up by 10% to Rs 76 crore in June quarter

Indian Energy Exchange on Thursday posted a 10 per cent increase in consolidated net profit to Rs 75.82 crore in the June quarter on the back of higher revenues. The consolidated net profit of the company was Rs 69.12 crore in the first quarter of the previous fiscal, according to a BSE filing. Total income of the company rose to Rs 127.36 crore in the first quarter of the current fiscal from Rs 113.39 crore a year ago. The exchange's board has approved the re-appointment of Sudha Pillai and Tejpreet Singh Chopra as non-executive independent directors for another five years after their respective terms end next year. The current term of Pillai will expire on April 25, 2024 and that of Chopra on March 4, 2024.

Indian Energy Exchange trade volume grows 8% to 8,251 mn units in May

The total trade volume of the Indian Energy Exchange grew by 8 per cent year-on-year to 8,251 million units (MU) in May. The average spot power price during May 2023 was 30 per cent lower at Rs 4.74 per unit against Rs 6.76 per unit in May 2022, due to an improving supply-side scenario, leading to increased liquidity, and cooler weather conditions. "Indian Energy Exchange achieved 8,251 MU overall volume in May 2023, including green market trade of 358 MU, 1.42 lakh RECs (equivalent to 142 MU) and 2.02 lakh ESCerts (equivalent to 202 MU). The overall volume during the month was higher by 8 per cent on YoY (Year-on-Year) basis," an IEX statement said. While an increase in power demand is expected in the coming months, the supply-side liquidity is likely to further improve due to enhanced coal supply, reduction in e-auction coal prices and consistently declining imported coal and gas prices. This will lead to competitive prices and higher clearance for Discoms and Open Access consume

Indian Energy Exchange trade volume grows 6% to 7,928 mn units in Apr

Indian Energy Exchange (IEX) on Thursday said its total trade volume increased by 6 per cent on a yearly basis to 7,928 million units (MU) in April. In a statement, the power trading exchange said "it achieved 7,928 MU overall volume in April 2023, including green market trade of 280 MU, 1.99 lac RECs (equivalent to 199 MU) and 1.23 lac ESCerts (equivalent to 123 MU)." The overall volume during the month was higher 6 per cent on a year-o-year (y-o-y) basis. The price during April 2023 was Rs 5.41 per unit unit, a fall of 46 per cent y-o-y from Rs 10 a unit in April 2022, due to improving supply-side scenario leading to increased liquidity, as well as cooler weather conditions. Trade commenced at the High Price DAM (HAM) segment, with 193 MWh (megawatt hour) volume during the month. This segment allows high-cost generators, such as -- gas-based power generators, imported coal-based plants and battery-energy storage systems -- to sell electricity on the market. While an increase in

Indian Energy Exchange trade volume dips 4% YoY to 9212 mn units in March

Indian Energy Exchange's total trade volume declined by 4 per cent to 9,212 million units (MU) in March compared to the same month a year ago. On a month-on-month basis, the trade volume rose by 12 per cent, a statement said. Indian Energy Exchange achieved 9,212 MU overall volume in March 2023, including green market trade of 391 MU, 8.69 lac RECs (equivalent to 869 MU) and 22,881 ESCerts (equivalent to 23 MU), a statement said. The (average spot power) price during March 2023 was Rs 5.25 per unit, lower 23 per cent on MoM basis, due to cooler weather conditions, it explained. The IEX achieved 26,052 MU volume across all segments during Q4 FY '23 (January-March 2023), growing 7 per cent over the previous quarter. Cumulatively for the fiscal year 2023, the IEX traded 96.8 BU (billion units), a degrowth of 5 per cent YoY basis, despite a highly constrained sell-side liquidity, which led to the price increasing by 35 per cent on YoY basis, it explained. The Day-Ahead Market (DAM)

Indian Energy Exchange commences trade on high price day ahead market

Indian Energy Exchange on Friday said it has commenced trade in the High Price Day Ahead Market segment to provide a new avenue of high variable cost electricity generators like imported coal and gas-based projects. "IEX, India's premier energy exchange, today announced the commencement of trade in the High Price Day Ahead Market (HP-DAM) segment," an IEX statement said. The Central Electricity Regulatory Commission (CERC) in its order dated February 16, 2023, approved the introduction of HP-DAM in the Integrated Day Ahead Market segment in the power exchange. This will provide a new avenue to the high variable cost generators which may not have been able to participate in DAM due to the existing price ceiling of Rs 12/kWh or unit, it explained. The HP-DAM segment was launched by Union Power Minister RK Singh during a webinar held on March 9, 2023. Speaking at the launch of HP-DAM, the minister said that it is a step towards reforming the evolving power market by meeting the curre

Indian Energy Exchange to launch High Price Day Ahead Market segment

Indian Energy Exchange has planned to launch the High Price Day Ahead Market segment by mid March, which will facilitate electricity generating firms to sell power at a price as high as Rs 50 per unit. Earlier this month, the Central Electricity Regulatory Commission (CERC) allowed three categories of power generators to participate in the HP-DAM market -- gas-based generating stations using imported RLNG and naphtha, thermal plants using only imported coal, and Battery Energy Storage System (BESS) -- on the petition of IEX (Indian Energy Exchange). "IEX has received approval from CERC to launch the High Price Day Ahead Market (HP-DAM) in the integrated day ahead market (I-DAM) segment. We expect to launch the segment by the mid of March 2023," Rohit Bajaj, Head-Business Development, Regulatory Affairs and Strategy, IEX, told PTI. The relaxation in norms by the CERC will provide relief to three categories of power generating companies (gencos) -- those running their plants on ...

Plenty of scope to generate and sell carbon credits in India: IEX CMD

In a Q&A, Satyanarayan Goel, CMD of the exchange, dwells on the current and future power distribution scenario in India and his plans to set up an International Carbon Exchange

Indian Energy Exchange's trade volume falls 7% to 8,452 mn units in Dec

The Indian Energy Exchange's total trade volume in December 2022 dipped 7 per cent to 8,452 million units as compared to the year-ago period mainly due to higher average spot price of electricity and lower trading of renewable energy certificates. "The overall volume on the exchange in December 2022 increased 9 per cent on a MoM basis. However, it declined by 7 per cent on YoY basis due to high REC (renewable energy certificates) traded volumes of 13.85 lakh in (December 2021) the previous year," an IEX statement said. The IEX total trade volume in December 2021 was 9,035 million units (MU). The IEX achieved 8,452 MU total volume in December 2022, including green power trade of 377 MU, and 4.87 lakh RECs (equivalent to 487 MU), it stated. The total electricity volume on the exchange last month was 7,964 MU, a rise of 8 per cent as compared to November 2022 and 4 per cent as compared to the year-ago period, it stated. For the third quarter (October-December 2022) of the ongoing fi

IEX gets shareholders' nod to buy back shares worth up to Rs 98 crore

Indian Energy Exchange (IEX) has got shareholders' approval through postal ballot to buy back shares worth up to Rs 98 crore. The proposal to buy back shares worth up to Rs 98 crore approved by requisite majority through postal ballot, showed a BSE filing. The board of directors in its meeting on November 25 had approved the cash offer for buyback of equity shares of face value of Rs 1 each at a maximum price of Rs 200 per share for an aggregate amount up to Rs 98 crore. The IEX had listed a special resolution -- approval for the buyback of equity shares in the postal ballot notice. The indicative maximum number of equity shares at the buyback price would be 49,00,000. The buyback is being undertaken after taking into account the operational and strategic cash requirements of the company in medium term and for returning surplus funds to the members in an effective and efficient manner, it explained.

IEX forms subsidiary to explore business opportunities in carbon market

Indian Energy Exchange (IEX) on Tuesday announced setting up a wholly-owned subsidiary, International Carbon Exchange Private Ltd (ICX), to explore business opportunity in the voluntary carbon market. The ICX will enable participants to buy and sell voluntary carbon credits at competitive prices through its transparent & reliable platform and facilitate reduction of global GHG (green house gases) emission by 45 per cent by 2030 to get on track to limit global warming to 1.5 degrees, an IEX statement said. The new company will facilitate corporates to meet their climate commitments goals. The Exchange platform will provide a robust market signal for attracting further investments in the sustainable projects and help corporates to allocate capex towards energy transition in most optimum manner, it added. As per industry estimates, the annual demand for voluntary carbon credit globally is expected to reach around 1.5 Gigatons, with India contributing around 200 million tonnes by ...

IEX falls 2% as board approves Rs 98 crore share buyback via open market

The board approved buyback of equity shares of the company at a price not exceeding Rs 200 per share and not exceeding Rs 98 crore through the open market

Here's why Mehul Kothari expects a turnaround in Birla Corp, IEX

According to the technical analyst from Anand Rathi, IEX can be bought for a target of Rs 156, while Birla Corp can rally to Rs 1,020.

IEX slips 5%, hits 52-week low on disappointing September quarter results

The company said the volumes were impacted due to supply side constraints, led by high prices of e- auction coal, imported coal and gas