The electricity market at
Indian Energy Exchange (IEX) achieved an all-time high volume of 8248.52 MU in March’21 surpassing all the previous milestones. The robust volumes led to a 92% YoY growth in the electricity market during the month.
According to the power demand data published by the National Load Dispatch Center, the national peak power demand touched 186 GW seeing a 9% YoY growth while the power consumption grew 23% YoY. The market faced transmission congestion on the interstate transmission network due to which 24MU was lost during the month, representing 0.03% of total traded volume.
IEX said, "Cumulatively for the fiscal year 2021, the Exchange Market performed spectacularly well despite the CoVID-19 induced lock-down which resulted in the significant reduction in the demand for electricity in the country in the first two quarters of the year. The electricity market achieved an all-time high volume of 73,941 MU during the year leading to 37.2% YoY growth. The new market segments introduced during the fiscal year 2021 – the real-time market, as well as the green market, made 14% contribution to the volume traded during the year."
"The phenomenal growth in electricity volumes on the Exchange platform during the month as well the the fiscal year 2021 underlines the significant role of the Exchange market among the distribution utilities and the industrial consumers in facilitating the most competitive, flexible, and efficient power procurement," IEX added.
Other key highlights of power markets for FY21 as per IEX's regulatory filing are:
1.During March’21 the day-ahead market traded 6,549 MU volume recording a significant 65% YoY growth. The average monthly price at Rs 4.06 per unit during the month saw a 20% MoM increase. The price increase was mainly due to the increase in demand for electricity during the month due to a sharp rise in temperature, the revival of economic and commercial activities. For the fiscal year 2021 the day-ahead on the Exchange-traded 60,416 MU and registered 23% YoY growth.
2. The term-ahead market comprising intra-day, contingency, daily & weekly contracts traded 234 MU during the month. Cumulatively, for the fiscal year 2021, the term-ahead market traded a total of 3,272 MU.
3. The real-time market continued its splendid performance during March’21 and crossed 1BU the benchmark for the fourth consecutive month. The market saw the highest ever monthly volume of 1414 MU with 26% MoM growth. It also recorded the highest single-day volume of 63 MU on 23 March’21. With sell-side bids at 1.8X of cleared volume, the market continued to have ample availability of power.
4. The Green Term Ahead Market traded a volume of 51 MU during the month comprising 21 MU in the solar segment and 30 MU in the non-solar segment. A total of 24 participants participated during the month with distribution utilities from Haryana, Bihar, Uttar Pradesh, West Bengal, New Delhi, Karnataka, Telangana, and Maharashtra among others as the key participants.
5. The REC trading session which was scheduled on 31 March’21 did not take place due to the stay order from APTEL in response to the petitions filed by a few Renewable Energy Associations against the CERC order dated June’20 regarding revision in the floor and forbearance prices of REC. During fiscal year 2021, the renewable energy certificate market cumulatively traded 6.97 lakh certificates.
On Sensex, IEX closed at Rs353.40 per piece up by 3.53%.