New Delhi, Nov 4: Average spot power price rose marginally by one per cent to Rs 2.74 per unit in October at Indian Energy Exchange (IEX), mainly due to higher supply.
“The average market clearing price at Rs 2.74 per unit saw only a slight increase of one per cent on y-o-y (year on year) basis and 2 per cent on m-o-m (month on month) basis,” IEX said in a statement.
This has ensured that the distribution utilities and industries accrue significant financial savings while leveraging the Exchange market for increasingly meeting their short-term electricity requirements at low cost, it added.
The day-ahead market volume at 5,501 MU (million units) during the month saw a 62 per cent year-on-year growth.
Though the buy bids at 6,163 MU saw a 57 per cent surge in volume during the month, the market continued to witness high sell-side liquidity with the total sell bids at 9,804 MU, being 1.8 times of the cleared volume (sales), it added.
One Nation One Price was achieved for 29 days of the month.
The market saw minor congestion due to forced outage of transmission lines during the month, mainly towards the import of power by the southern states.
The trade in the term-ahead market stood at 219 MU for the month, with several utilities increasing trade in weekly and daily contracts.
IEX traded electricity volume of 6,743 MU in October, witnessing a significant 76 per cent year-on-year increase.
The real-time electricity market (RTM) registered a total trade of 814 MU during October, registering a 16 per cent growth on a month-on-month basis.
The rise in trade volume was also accompanied by the increased participation – October witnessed 326 market participants, a growth of 11 per cent over the previous month.
RTM facilitates utilities and open access consumers in balancing the real-time demand-supply variations in the most efficient manner, with the delivery of power at just 1-hour notice, making it desirable amongst the utilities, the statement said.
RTM registered the highest volume traded in a single day at 44.54 MU on October 14.
Further, the highest number of participants transacting in a single day was 166 on three separate days on 7th, 19th and 29th of October.
During the month, the sell bids and buy bids volume stood at 2,199 MU and 1,078 MU, respectively.
With the sell-side liquidity at nearly twice the buy-side, the market discovered competitive average clearing price at Rs 2.69 per unit.
On a cumulative basis, the real-time electricity market has traded a volume of 3,680 MU in the first five months since inception on June 1, 2020.
The recently launched Green Term Ahead Market (GTAM) continued to witness exciting response from the utilities, consumers as well as renewable generators. During October, the market recorded a trading volume of 208 MU, representing a significant 151 per cent growth on a month-on-month basis.
The trade in solar energy stood at 173 MU.
The market saw participation from 25 participants during the month. The highest single-day participation of 18 was recorded on16th and 28th of October.
The key participants included utilities from West Bengal, Haryana, Dadar & Nagar Haveli, Daman & Diu and Delhi, among others.
IEX commenced trading in the green contracts on August 21, 2020, and has accomplished a cumulative trade of 300+ MU.
Presently, the market offers trade in intraday and day-ahead contingency contracts in both solar and non-solar segments. (PTI)
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