New Delhi: The Indian Energy Exchange (IEX) reported 18 per cent rise in its trade volume to 9,483 million units (MU) in October due to surge in electricity demand, lower rainfall and base effect.
"IEX achieved 9,483 MU overall volume, including 2.17 lakh Renewable Energy Certificates (equivalent to 217 MU) and 5,814 Energy Saving Certificates (equivalent to 5.8 MU). The overall volume traded during October increased 18 per cent on YoY basis," an IEX statement said.
IEX achieved 9,260 MU total electricity volume in October 2023, registering an increase of 21 per cent year-on-year.
Last month, the country's energy consumption reached 139 billion units, marking a substantial 22 per cent year-on-year increase due to a surge in electricity demand, below-average rainfall, and a lower base of the year-ago period.
This surge in power demand prompted DISCOMs to actively purchase power on the exchange to meet demand, thereby leading to a significant increase in trade volumes on IEX, it stated.
The increase in demand pushed Day-Ahead Market (DAM) price on IEX to Rs 6.45 per unit, representing 68 per cent year-on-year increase on a lower base price of the same month last year.
The DAM volume increased to 4,742 MU in October 2023 from 4,379 MU in the year-ago month.
The Real-Time Electricity Market (RTM) volume increase to 2,402 MU in October 2023 from 2,265 MU in the same month a year ago, registering an increase of 6.1 per cent YoY.
The RTM segment enables distribution utilities and industries with greater flexibility and efficient optimisation of portfolios by balancing their power demand-supply on a real-time basis.
Day Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily & weekly and monthly contracts up to 3 months, traded 1,911 MU last month, higher by 207.6 per cent on YoY basis.
IEX Green Market, comprising Green Day-Ahead and Green Term-Ahead Market segments, achieved 188 MU volume during October 2023.
The G-DAM achieved 180.80 MU volume during the month, with a weighted average price of Rs 6.37 per unit. The segment saw participation from 194 market participants during the month.
The G-TAM achieved 7.23 MU volume in October 2023, with average monthly price of non-solar at Rs 8.40/unit.