IEX trades 7,093 MU of power in June 2021

The national peak demand saw 16 percent YoY increase, with the highest-ever peak demand at 191.51 GW.

The Indian Energy Exchange (IEX) traded 7,093 MU of electricity volume in June 2021 recording 48 percent YoY growth. According to the power demand data published by the National Load Dispatch Center, the national peak demand saw 16 percent YoY increase, with the highest-ever peak demand at 191.51 GW, while energy consumption at 115 BU grew 8 percent YoY. The growth has been led by relaxations in COVID-19 related lockdowns across the country along with peak summer season and heatwave in Northern India.

Cumulatively for the first quarter of fiscal year 2022, the Exchange Market witnessed a robust performance despite the Covid-19 induced lockdown restrictions. The electricity market achieved a volume of 21,340 MU during the first quarter resulting in 44 percent YoY growth. 

Amidst growing power consumption in the country, distribution utilities and industries are increasingly relying on the IEX electricity market to source power in the most competitive, efficient, sustainable, and flexible manner.

Day-ahead, term-ahead & real-time electricity market

The day-ahead market traded 4,314 MU volume in the month of June 2021 with the average monthly price at ₹3.06 per unit. The sell-bids at 2X of the cleared volume during the month of June 2021 ensured ample availability of power and discovery of competitive prices thereby providing optimisation opportunities to the distribution utilities. For the first quarter of the year 2022, the day-ahead market on the Exchange traded 14,377 MU and registered 7 percent YoY growth.

The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 641 MU during the month recording a 539 percent YoY growth. Cumulatively, for the first quarter, the term-ahead market traded a total of 1,372 MU and registered 54 percent YoY 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 ₹3.02 per unit. The trade volume saw a significant 235 percent YoY growth and 20 percent MoM. The market also recorded the highest-ever volume in a single day with 80 MU traded on June 22. In the first quarter, the market has done a cumulative trade of 4,635 MU. The consistent growth of real-time electricity market is an indication of the growing reliance of distribution utilities and industries on the market to address their power demand-supply balancing in real-time at competitive prices.

Green market

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 percent growth over the previous month led by the ongoing wind season. For the first quarter, the market has registered a cumulative trade volume of 955 MU, already surpassing the total green volumes achieved in FY 2021. 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.

A total of 49 participants participated during the month with distribution utilities from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Goa, Maharashtra, Daman & Diu, Assam and New Delhi among several others, as key participants.