![IEX power market update for February 2021](https://www.eqmagpro.com/wp-content/uploads/2021/02/1-16.jpg)
Indian Energy Exchange achieved 50% growth in electricity market with volume of 6769 MU in month of February 2021.
The robust growth in volume indeed indicates that Exchange’s electricity market being clearly positioned as the most preferred option for distribution utilities and the industrial consumers to source electricity for addressing the demand-supply balance as well as to optimize power procurement portfolio at the competitive price and in an utmost flexible and transparent manner.
According to the data published by the National Load Despatch Center, the national peak demand at 188 GW registered 2.17% YoY growth while the average daily electricity consumption increased 3.31% YOY in February 21.
One Nation One Price prevailed during all 28 days of the month.
The day-ahead market traded 5124 MU volume and saw a notable 19.5% YoY growth in February’21. The cumulative sell bids at 8535 MU were 1.7 times of cleared volume indicating ample availability of power in the market. The average monthly price at Rs 3.39 per unit during the month saw 16% YoY increase driven by a sharp increase in demand by several states.
The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 432 MU volume during February’21 recording a significant 90.84% YoY increase.
The real-time market continued its exemplary performance and traded 1118.45 MU volume in February’21.
The market crossed 1BU+ volume milestone for the third consecutive month. The sellside bids at 2X of the cleared volume indicate good availability of power in the market. The market discovered an average price at Rs 3.31 per unit and saw daily average participation from about 323 participants during the month.
The real-time market has been supporting utilities and open access consumers in balancing the real time demand, with delivery of power at just a 1.5 hour notice.
Since its launch on 01 June 2020, the real-time market has cumulatively traded 8054 MU.
The Green Term Ahead Market traded a volume of 93.72 MU during the month comprising 37.5 MU in solar segment and 56 MU in non-solar segment.
The distribution utilities, renewable generators, and open access consumers leverage the green market to buy-sell green energy besides also fulfilling the Renewable Purchase Obligation (RPO) targets.
A total of 25 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.
The market has cumulatively traded 735 MU volume since its launch on 21 August 2020.
The REC (renewable energy certificates) trading session which was scheduled on 24 February 2021 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.