IEX power market trades 37 pc higher at 7,322 MU in July

The electricity market at Indian Energy Exchange (IEX) traded 7,322 million units in July, achieving 37 per cent year-on-year growth.

IEX said the national peak demand on July 7 at 200.6 GW was the highest ever, registering a 17.6 per cent increase while energy consumption grew 10.6 per cent at 125.5 BU.

During the month, India's manufacturing PMI rose to a three-month high at 55.3. With the easing of lockdown restrictions, economic activities as well as power consumption accelerated.

The day-ahead market traded 4,238 MU volume during the month at average monthly price at Rs 2.95 per unit. The sell-bids at 2X of the cleared volume ensured ample availability of power and providing competitive procurement opportunities to the distribution utilities and industries.

The cross-border electricity trade under the day-ahead market saw 72 MU volume traded and registered 68.4 per cent month-on-month increase.

Currently, Nepal is the only participating country in IEX market while other south Asian countries like Bangladesh and Bhutan are expected to join the platform shortly.

The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 761 MU during the month recorded 11 times growth.

The real-time electricity market continued to show exceptional performance with monthly volumes of 1,596 MU seeing a significant 103 per cent year-on-year increase with the highest-ever single-day volume since inception at 81.6 MU on July 10.

The average monthly price of Rs 2.77 per unit saw 8.4 per cent month-on-month decline making the real-time power sourcing a compelling opportunity for market participants, said IEX.

IEX said the green term-ahead market traded the highest-ever volume of 726 MU in July, seeing 76 per cent month-on-month increase. It also registered the highest-ever single day volume of 153.1 MU on July 16.

The market saw participation from distribution utilities from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Goa, Maharashtra, Punjab,Daman & Diu, Assam and Tamil Nadu.

IEX is India's premier energy exchange providing a nationwide automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.

The exchange platform enables efficient price discovery and increases accessibility and transparency of the power market while enhancing the speed and efficiency of trade execution.

( With inputs from ANI )

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