HPX Trading Volume Exceeds 2.5 Bn Units with a Strong Growth in Trade Volume Across Categories
Hindustan Power Exchange Ltd. (HPX), India’s fastest power exchange promoted by PTC India Ltd, Bombay Stock Exchange, and ICICI Bank, has successfully crossed the milestone of 2.5 Billion Units of power traded within 8 months of its launch.
March 06, 2023. By News Bureau
HPX was able to cross this land mark with a rapid increase in trade volume across Contingency, Weekly, Monthly, and Long Duration Contracts (LDC) segments.
The exchange recently concluded monthly long-duration contractsof 453.7 MU which will be delivered in the months of March and April 23 and is a part of the above volume.
HPX raced to 2.5 BU within a short span of 67 days with a daily average volume of ~18 MU, post crossing the historic landmark of 1 BU, which happened within six months of its launch. This is the fastest increase in volume for the initial few months of the existence of any of the power exchanges operating in the country.A large part of this volume is attributed to the LDCs whichwere introduced on the HPX platform in the month of February.
HPX successfully executed the very first Electronic Reverse Auction (e-RA) contract for the Indian Railways,which saw encouraging participation fromgenerators.Since the launch, more than 25+ E-RA tenders have been launched on HPX in just three weeks with the successful executionof7 e-RAs, and more are in line to be executed.
The LDC segment on HPX is picking up pace because of the support HPX provides for the identification of demand pockets for the Buyers and helping them to optimise their power purchase costs. The team at HPX also works closely with all major generators and traders to ensure encouraging responses to these LDCs and to ensure better liquidity for these contracts.
The exchange plays an important role in ensuring the conversion of auctions into successful contracts as well as guaranteed timely payments to the sellers, which is increasing the acceptability of e-RAs’ on HPX.
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