The electricity market at the Indian Energy Exchange (IEX) witnessed a total trade of 4,790 million units in June, recording a 5 per cent year-on-year increase despite the national peak demand registering a 10 per cent decline during the month.
Increased economic activity and easing of the lockdown restrictions in most parts of the country coupled with peaking summers contributed to national peak demand at 165 GW and energy consumed at 107 BU, according to data released by the National Load Despatch Centre.
The day-ahead market traded 4,174 MU and witnessed high sell-side liquidity in the month with total sell bids at 10,164 MU being close to 1.5X the buy bids at 4,661 MU.
The average market clearing price during the month was at Rs 2.35 per unit registered 29 per cent year-on-year decline over a price of Rs 3.32 in June last year.
"The increased availability of power and attractive prices in the market ensured that industries, as well as distribution utilities, continue to have access to lower electricity prices, leading to greater savings as well as assisting them in building the much-needed financial liquidity which is critical at this hour," IEX said in a statement on Monday.
In fact, the open-access volume in June witnessed 30 per cent month-on-month increase. One Nation One Price prevailed for all 30 days during the month.
IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy certificates and energy saving certificates.
The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution.
( With inputs from ANI )