The market registered ample availability of power with the total sell bids at 10,074 MU being almost two times of the cleared volume.
New Delhi : The average spot power price rose 11 per cent to Rs 3.18 per unit in the day ahead market on the Indian Energy Exchange (IEX) in January from Rs 2.86 per unit in the same month last year. The day ahead market (DAM) traded 5,584 MU (million unit) and saw a notable 17 per cent YoY (year-on-year) growth last month, an IEX statement said.
The market registered ample availability of power with the total sell bids at 10,074 MU being almost two times of the cleared volume.
The electricity market at IEX also achieved a new milestone in January 2021 with an all-time high total volume of 7,434 MU , a significant 47 per cent YoY growth.
One Nation One Price prevailed during all 31 days of the month. The distribution utilities and the open access consumers continue to leverage the exchange market to source competitively priced power as industry and economy gear up for revival post-COVID-19, it added.
IEX said quoting the National Load Dispatch Center data, that the national peak demand touched nearly 190 GW on January 30, 2021 seeing 11 per cent YoY growth while the energy consumption grew 4.7 per cent YoY during the month.
The term-ahead market (TAM) comprising intra-day, contingency, daily and weekly contracts traded 524 MU volume last month, recording a significant 93 per cent YoY increase.
The real-time market registered the highest ever monthly volume of 1,233 MU in January 2021 since commencement on June 1, last year, achieving 9.2 per cent month-on-month growth.
The market achieved highest-ever single day volume of 55.75 MU on January 18, 2021. The sell-side liquidity was 2 times of the cleared volume ensuring an attractive market price of Rs 3.01 per unit. About 321 participants participated in the TAM during the month.
With splendid response from the participants, the real time electricity market (RTM) has been establishing new benchmarks every month, it said.
This is testament to the excellent support offered by the market segment to the distribution utilities as well as the open access consumers in balancing their real-time power demand-supply variations in the most efficient manner at just 1-hour notice. Since its launch, the RTM has cumulatively traded 6,936 MU.
The Green Term Ahead Market has been receiving promising response from the distribution utilities, renewable generators, and open access consumers. The market registered a volume of 92.4 MU during the month comprising 24 MU in solar segment and 68.4 MU in non-solar segment.
Total 24 participants participated during the month with distribution utilities from Haryana, Bihar, New Delhi, West Bengal, Karnataka, and Telangana among others, as the key participants.
With prolonged pause in REC trading, the green market has emerged as a key support for obligated entities in meeting their Renewable Purchase Obligation targets, it said adding that the market has traded 641 MU cumulatively since its launch on August 21, 2020.
Source : PYI
