The Indian Energy Exchange (IEX) traded electricity volume of 6164 million units (MU) in November 2020, registering a significant 61% YoY growth.
The day-ahead market volume at 4,860 MU (million units) also recorded 43% Y-o-Y growth. "The market continued to see high sell side liquidity with total sell bids at 9,778 MU being twice that of the cleared volume. This enabled the market to maintain attractive average market clearing price at Rs 2.73 per unit during the month seeing a 4% Y-o-Y decline over the price of Rs 2.85 during the same period last year," IEX said before market hours today, 7 December 2020.The real-time electricity market saw all time high volume of 894 MU in November 2020 since commencement on 1 June 2020 and registered a 10% growth on M-o-M (month-on-month) basis. The highest volume traded on a single day was 40.60 MU on 29 November 2020.
Attractive power prices in the exchange market continued to yield greater financial savings for the distribution utilities and industries enabling them to build on and improve their financial liquidity as well as overall efficiency. One Nation One Price prevailed during all 30 days of the month making Exchange the most reliable platform for power procurement. The term-ahead market traded 245 MU volume during November 2020, it added.
The Green Term Ahead Market registered a cleared volume of 164 MU comprising 145 MU in solar and 19 MU in non-solar. Since its launch on 21 August 2020, the market has cumulatively traded over 459 MU volume.
IEX's consolidated net profit declined 9.2% to Rs 44.33 crore on 5.1% increase in net sales to Rs 70.92 crore in Q2 September 2020 over Q2 September 2019.
Shares of IEX declined 0.35% to Rs 214.80.
IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates).
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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