IEX Power Market Trade Grows 90.2% in April at 7707 MU

Continuing its last fiscal exceptional performance, the electricity market at Indian Energy Exchange (IEX) traded 7707 MU volume registering a growth of 90.2 per cent during April 2021.

According to the power demand data published by the National Load Dispatch Center (NLDC), the national peak power demand at 183 GW while the peak demand & power consumption registered close to 40 per cent YoY growth on a weak base.

While the growing electricity consumption has been one of the key factors behind the consistent performance of the Exchange market, its robust value proposition in terms of the most competitive prices, flexible, and efficient procurement positions Exchange as the most preferred destination for power procurement for both the distribution utilities as well as the industrial consumers.

Further, the green term-ahead market traded 186 MU volume in the month of April, 2021 comprising 78 MU in the solar segment and 108 MU in the non-solar segment, achieving a significant 262 per cent MoM growth.

A total of 34 participants participated during the month with distribution utilities from Haryana, Bihar, Uttar Pradesh, West Bengal, Maharashtra, Karnataka, and Telangana among others as the key participants. The market has been enabling distribution utilities, industrial consumers, and green generators to trade in renewable energy in the most competitive and viable way.

During the month, IEX commenced the Cross Border Electricity Trade (CBET) on its platform marking a significant milestone in its endeavor to build an integrated South Asian regional power market.

As a first-of-its kind initiative, the new market segment allows the Exchange market to expand its reach beyond India to the South Asia region, thus supporting the growth of energy ecosystem in the region in an efficient and sustainable manner.

Nepal was the first country to trade in the day-ahead market on the Exchange on 17 April’21. The other South Asian countries like Bhutan and Bangladesh are expected to join the platform soon, and the market is likely to grow at a fast pace in the coming months.

Meanwhile, the REC trading session which was scheduled on April 29, 2021 did not take place due to the stay order from APTEL in response to the petitions filed by a few Renewable Energy Associations. The next hearing on the matter on APTEL has been scheduled on July 14, 2021.