Power Market Trades 6540 MU in May’21 Achieving 9% YoY Growth Amidst Lockdowns

The Indian Energy Exchange traded 6540 MU of electricity volume in May '21 achieving 9% YoY growth amidst continuation of the COVID-19 lockdowns as well the cyclonic disturbances which affected the overall power demand in the country. The national peak demand at 169 GW recorded a 2% YoY growth while the energy consumption at ~111 BU saw 8% YoY growth on the weak base, as per the power demand data published by the National Load Dispatch Center.

IEX endeavors to provide uninterrupted 24*7 access to its platform to facilitate the distribution utilities as well as industrial consumers buy electricity on demand in the sustainable and efficient manner. Driven by the state-of-the-art technology with customer centricity at its core and coupled with the virtues such as the most competitive power prices, flexibility of procurement in 15-minute time blocks and transparency, the Exchange as now positioned as the most preferred destination within the short-term power market.

The green term-ahead market traded the highest ever volume of 357 MU during May’21 comprising 194 MU in the solar segment and 164 MU in the non-solar segment, achieving a significant growth of 92% MoM.

A total of 43 participants participated during the month with distribution utilities from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Goa, and Gujarat among others, as key participants. The market has become a key facilitator of green power trade among distribution utilities, industrial consumers, and green generators offering the most competitive and viable avenue.

The recently launched Cross Border Electricity Trade achieved 119 MU volume in the month of May’21. While Nepal has already been participating actively in the day-ahead market on the Exchange, the other South Asian countries are expected to join in soon.  The market will be instrumental in developing an integrated South Asian regional power market ecosystem and support efficient and sustainable growth of the energy sector in the region.

The REC trading session which was scheduled on 26 May’21 did not take place due to a stay order from Appellate Tribunal for Electricity (APTEL), in response to the petitions filed by a few Renewable Energy Associations. The next hearing on the matter on APTEL is scheduled to be held on 14 July’21.