Power transaction at Indian Energy Exchange (IEX) has registered significant growth during Dec ’20, eventually attaining all-time high monthly total of 7,260 MU, since the trading platform became operational in 2008.
Traded volume increased 52% y-o-y from 4,768 MU in Dec ’19, which was also 18% higher on the month from 6,164 MU in Nov ’20.
Day-ahead market which accounts for majority of transactions witnessed sale of 5,606 MU of electricity and registered 29% y-o-y growth during the month, wherein total sell bids at 10,814 MU were almost twice that of the cleared volume implying ample availability of the power in the market.
Remaining volume was traded in term-ahead market, real time market and green market channels of IEX.
Shortfall in demand owing to COVID-19 was swept away by the robust growth seen in spot sale of electricity from Sep ’20 onwards. However, season variation due to the arrival of winter season brought down the y-o-y growth during Dec ’20 which was assessed lowest in the final quarter of CY ’20.
Overall, average spot sale during the year assessed at 5,447 MU has increased 31% y-o-y from 4,156 MU in CY ’19.
Surplus electricity has also led to cheaper spot prices for sale at IEX thereby yielding greater financial savings for the distribution utilities and user-industries.
Notably, power prices for Day-ahead market during Dec ’20 decreased 3% y-o-y to INR 2.83/unit against INR 2.93/unit in Dec ’19, and was also assessed 9% lower than the average price of INR 3.11/unit recorded for CY ’19.
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