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IEX sales volume jumps 48% to 7,093 MU in June

IEX sales volume jumps 48% to 7,093 MU in June

05 Jul 2021

The (IEX) recorded 48 per cent increase in its power trade volume at 7,093 million units in June compared to the same month a year ago.

Cumulatively, for the first quarter of 2021-22, the Exchange market witnessed a robust performance despite the COVID-induced restrictions, IEX said in a statement.

The electricity market achieved a volume of 21,340 million units (MU) during the first quarter (April-June), registering 44 per cent growth year-on-year.

Amid 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, it stated.

The day ahead market (DAM) traded 4,314 MU volume in June 2021 with the average monthly price at Rs 3.06 per unit.

The sell bids at 2 times of the cleared volume during the month ensured ample availability of power and discovery of competitive prices thereby providing optimization opportunities to the distribution utilities.

In the first quarter of 2021-22, DAM traded 14,377 MU and registered 7 per cent growth as compared to the year-ago period.

The term-ahead market (TAM) comprising intra-day, contingency, daily & weekly contracts traded 641 MU during the month, recording multi-fold growth year-on-year.

Cumulatively, in the first quarter, TAM traded total 1,372 MU and registered 54 per cent year-on-year 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 per cent year-on-year growth and 20 per cent month-on-month.

The market also recorded highest ever volume in a single day with 80 MU traded on June 22. In the first quarter, the market did a cumulative trade of 4,635 MU.

The consistent growth of real-time electricity market is an indication of growing reliance of distribution utilities and industries on the market to address their power demand-supply balancing in real time at competitive prices.

The green term-ahead market also saw the highest ever monthly volume being traded in June 2021.

With a volume of 412 MU during June 2021, the market saw 15 per cent growth over the previous month led by the ongoing wind season.

For the first quarter, the market registered a cumulative trade volume of 955 MU, already surpassing the total green volumes achieved in 2020-21.

The 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.

Total 49 participants participated during the month. Distribution utilities from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Goa, Maharashtra, Daman & Diu, Assam and New Delhi were key participants.