IEX electricity market sees 50 per cent growth in February
Published: Mar 04, 2021
By TIOLCORPLAWS News Service
NEW DELHI, MAR 04, 2021: THE electricity market at Indian Energy Exchange (IEX) traded a volume of 6769 MU in February and achieved 50 per cent year-on-year (YoY) growth said an official statement on Thursday.
The robust growth in volume indicates IEX's electricity market is clearly positioned as the most preferred option for distribution utilities and the industrial consumers to source electricity for addressing the demand-supply balance as well as to optimise power procurement portfolio at the competitive price and in an utmost flexible and transparent manner.
According to the data published by the National Load Despatch Centre, the national peak demand at 188 GW registered 2.17 per cent YoY growth while the average daily electricity consumption increased 3.31 per cent in February, 2021.
"'One Nation One Price' prevailed during all 28 days of the month," said the statement.
The day-ahead market traded 5124 MU volume and saw a 19.5 per cent YoY growth. The cumulative sell bids at 8535 MU were 1.7 times of cleared volume indicating ample availability of power in the market. The average monthly price at Rs. 3.39 per unit during the month saw 16 per cent YoY increase driven by a sharp increase in demand by several States.
The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 432 MU volume recording a significant 90.84 per cent YoY increase.
The real-time market continued traded 1118.45 MU volume in February, crossing the 1BU+ volume milestone for the third consecutive month. The market discovered an average price at Rs. 3.31 per unit and saw daily average participation from about 323 participants during the month.
The Green Term Ahead Market traded a volume of 93.72 MU during the month comprising 37.5 MU in solar segment and 56 MU in non-solar segment.