The total trade volume of Indian Energy Exchange dipped 13 per cent to 7,972 million units (MU) in October compared to a year ago.
The Indian Energy Exchange (IEX) achieved 7,972 MU volume in October 2022, including Green Power trade of 403 MU, and 3.58 lac RECs (equivalent to 358 MU), an IEX statement said.
”The total volume on the Exchange in October’22 was lower by 13 per cent on YoY (year-on-year) basis due to high volume base of last year, and lower by 2 per cent on MoM (month-on-month) basis due to reduced REC (Renewable Energy Certificate) trading,” it stated.
Improved supply of domestic coal led to easing of supply side constraints, resulting in decline of prices on the IEX, it explained.
The average clearing price in the Day-ahead market was Rs 3.83 in October, which was lower by 32 per cent on MoM (month-on-month) basis and 52 per cent on YoY (year-on-year) basis.
Going forward, further correction in prices due to improvement in coal availability and reduction in demand due to onset of winters, will provide opportunity for cost optimization by Discoms and Open Access consumers, resulting in increased volumes on the Exchange, it stated.
Day-Ahead Market clearing price was Rs 3.83 per unit, as against Rs 5.63 per unit in September 2022.
As a result, the Day-Ahead Market volume increased from 4,050 MU in September 2022 to 4,325 MU in October 2022, i.e 7 per cent growth on MoM basis. However, the Day Ahead Market volume was lower by 34 per cent on YoY basis due to high volume base of last year.
The Real-Time Electricity Market achieved 2,265 MU volume during October, registering a 13 per cent YoY growth. The highest single-day volume of 124 MU was achieved on October 6, 2022.
There were 630 participants in this segment during the month.
The consistent growth of the real-time electricity market is an indication of growing reliance of the distribution utilities and industries to achieve power demand-supply balancing in real-time in the most efficient manner, it stated.
The Term-Ahead Market (TAM), comprising intra-day, contingency, daily & weekly contracts, and LDCs traded 621 MU during the month, a decrease of 29 per cent on MoM basis. However, the segment grew by an impressive 176 per cent on YoY basis.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 403 MU volume during October ’22, growing 10 per cent YoY.
The Green Day-Ahead Market achieved 293 MU volume with a weighted average price of Rs 4.02 per unit. The market saw participation from 721 market participants during the month, with the highest number of participants in a single day at 621 on October 9, 2022.
The Green Term-Ahead Market achieved 110 MU volume with an average monthly price of Rs 3.77/unit for Solar, Rs 5.45/unit for Non-Solar.
A total of 3.58 lacs RECs were cleared in the trading session at IEX held on Wednesday, 26th October, 2022.
The volume comprised 1.76 lacs Non-Solar RECs with clearing price at Rs 1,000 per REC. Increased inventory of solar RECs saw the clearing price reaching floor-level at Rs 1,000 per REC, with 1.82 lacs Solar RECs traded during the month.
The next REC trading session at the Exchange is scheduled on Wednesday, November 30, 2022.