Indian Energy Exchange on Thursday announced that it traded 7,322 MU volume and achieved 37% year on year growth in July 2021.
The day-ahead market traded 4,238 MU volume during the month at the average monthly price at Rs 2.95 per unit. The sell-bids at 2X of the cleared volume ensured ample availability of power and providing competitive procurement opportunities to the distribution utilities and industries.The newly introduced cross-border electricity trade under day-ahead market saw 72 MU volume traded and registered 68.4% MoM increase. Currently, Nepal is the only participating country in IEX CBET market while other South Asian Countries like Bangladesh and Bhutan, are expected to join the platform shortly.
The term-ahead market comprising intra-day, contingency, daily & weekly contracts traded 761 MU during the month recording 11 times growth. The real-time electricity market continued to show exceptional performance with the monthly volumes of 1,596 MU seeing a significant 103% year on year increase with the highest-ever single day volume since inception at 81.6 MU on 10 July 2021. The average monthly price of Rs 2.77 per unit saw 8.4% sequential decline making the real-time power sourcing a compelling opportunity for the market participants.
The green term-ahead market traded the highest-ever volume of 726 MU in July 2021 seeing a 76% sequential increase. The green term-ahead market also registered the highest-ever single day volume of 153.1 MU on 16 July 2021. During the month, the market saw participation from 51 members which is the highest-ever since inception in August 2020. The market saw participation from distribution utilities from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Goa, Maharashtra, Punjab, DNH, Daman & Diu, Assam and Tamil Nadu among others.
Shares of Indian Energy Exchange were trading 0.84% lower at Rs 418.40 on BSE.
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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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