The electricity market at the Indian Energy Exchange (IEX) saw a trade of 4052 million units (MU), recording a 6.6 per cent YoY decline, while the national peak demand at 133 GW declined 25 per cent YoY in April 2020.
This was mainly due to contraction in commercial and industrial demand on account of the Covid-19-related lockdown.
The day-ahead market volume was at 3692 MU while the term-ahead volume was at 360 MU. The term-ahead segment recorded a significant 8 per cent YoY growth due to increased preference for TAM contracts amongst southern, western and northern utilities.
Power procurement by Andhra Pradesh, Telangana, Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh, Bihar and Punjab. among others. increased by over 10 per cent in April owing to ample power availability and very attractive prices.
The distribution utilities continue to leverage the Exchange for accumulating significant financial savings as well as supplying 24x7 uninterrupted power to critical sectors like healthcare, public utilities and other essential services.
The total sell bids in day-ahead market at 9,294 MU were 2.3 times the buy bid at 3,917 MU. Robust sell-side liquidity kept prices under check and average price at low of ₹2.42 per unit registered 25 per cent YoY decline vis-à-vis price of ₹3.22 per unit in the corresponding period last year, IEX said in a statement.
One Nation One Price prevailed for 30 days during the month.
REC
On April 29, the Renewable Energy certificate (REC) trading session at IEX saw a total trade of 1.88 lakh RECs comprising 1,72,488 non-solar RECs and 15,991 solar RECs.
The price for solar RECs at ₹2,400 per REC continued to be at the ceiling price prescribed by the CERC. The price has been at ceiling since October 2019.
The price for non-solar RECs (issued after 1.4.17) at ₹1,000 decreased 44 per cent from ₹1,800 in March 2020.