IEX electricity market sees splendid 50% YoY volume growth in February 2021

Continuing the growth momentum, the electricity market at Indian Energy Exchange trades 6769 MU volume and registers a splendid 50% YoY growth in the month of February'21.

The robust growth in volume indeed indicates that Exchange's electricity market being 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 optimize 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 Center, the national peak demand at 188 GW registered 2.17% YoY growth while the average daily electricity consumption increased 3.31% YOY in February 21.

One Nation One Price prevailed during all 28 days of the month.

DAY- AHEAD, TERM- AHEAD & REAL- TIME ELECTRICITY MARKET

The day-ahead market traded 5124 MU volume and saw a notable 19.5% YoY growth in February'21. 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% 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 during February'21 recording a significant 90.84% YoY increase.

The real-time market continued its exemplary performance and traded 1118.45 MU volume in February'21. The market crossed 1BU+ volume milestone for the third consecutive month. The sellside bids at 2X of the cleared volume indicate good availability of power in the market. 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 real-time market has been supporting utilities and open access consumers in balancing the realtime demand, with delivery of power at just a 1.5 hour notice.

Since its launch on June 01, 2020, the real-time market has cumulatively traded 8054 MU.

GREEN MARKET

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.

The distribution utilities, renewable generators, and open access consumers leverage the green market to buy-sell green energy besides also fulfilling the Renewable Purchase Obligation (RPO) targets.

A total of 25 participants participated during the month with distribution utilities from Haryana, Bihar, Uttar Pradesh, West Bengal, New Delhi, Karnataka, Telangana, and Maharashtra among others, as the key participants.

The market has cumulatively traded 735 MU volume since its launch on August 21, 2020.

RENEWABLE ENERGY CERTIFICATES

The REC trading session which was scheduled on February 24, 2021 did not take place due to the stay order from APTEL in response to the petitions filed by a few Renewable Energy Associations against the CERC order dated June'20 regarding revision in the floor and forbearance prices of REC.

Shares of Indian Energy Exchange Ltd was last trading in BSE at Rs.298.05 as compared to the previous close of Rs. 302.55. The total number of shares traded during the day was 149378 in over 1675 trades.

The stock hit an intraday high of Rs. 306.1 and intraday low of 296.05. The net turnover during the day was Rs. 45185247.

Source : Equity Bulls

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