Indian Energy Exchange an energy exchange, achieved 9147 MU overall volume, including green market trade of 230 MU, 5.15 Lac RECs (equivalent to 515 MU) and 1.06 Lac ESCerts (equivalent to 106 MU), the company announced through an exchange filing. The overall volume traded during the month increased 13% on YoY basis.
The demand momentum witnessed in August '23 continued into September '23. The country's electricity consumption increased to 140 BU during September '23, compared to 127 BU in September'22, marking a year-on-year increase of 10%. According to Grid-India, the country recorded an all-time high peak demand of 240 GW on September 01 and the highest-ever single-day energy consumption of 5224 MU on September 02.
For the second quarter of the fiscal year 2023, IEX achieved 26533 MU resulting in 15% YoY growth across market segments.
It is noteworthy to mention that, in accordance with the CERC notification dated August 3, 2023, the General Network Access (GNA) regulation, Indian Electricity Grid Code (IEGC) regulations, and Transmission Charges Sharing regulations have been implemented, starting from October 1, 2023. This notification will positively impact trading volumes in the Day-Ahead Market (DAM) on the Exchange since sellers won't be required to pay interstate transmission charges.
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Electricity market: Day- ahead, term- ahead & real-time market
The Day-Ahead Market (DAM) achieved 3467 MU volume in September’23. The average market clearing price was Rs. 6.23/ unit in September’23 as compared to Rs 5.63/unit in September’22, an increase of 11% year-on-year basis. The DAM segment registered total volumes of 11253 MU during Q2 FY '24, a marginal increase of 1.4% over Q2 FY '23.
The Real-Time Electricity Market (RTM) achieved 2923 MU in September’23, registering an increase of 33% YoY. It is noteworthy to mention that IEX achieved the highest ever single day volume of 134 MUs in RTM on 04 September 2023.The RTM segment registered volume of 8201 MU during Q2 FY'24, increasing 24% over Q2 FY '23.
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.
The Term-Ahead Market (TAM) and the Day Ahead Contingency Market (DAC), comprising intra-day, contingency, daily & weekly contracts, and contracts up to 3 months, traded 1895 MU during September’23, higher by 115 % on YoY basis. The total volume on the segment during the quarter was 4605 MU, growth of 125% over Q2 FY ‘23.
Green market: Green day-ahead & green term-ahead market
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 230 MU volume during September’23. During Q2FY24, the segment achieved volume of 748 MU.
The Green Day-Ahead Market (G-DAM) achieved 140 MU volume during the month, with a weighted average price of Rs 6.47 per unit. The segment saw participation from 192 market participants during the month. During Q2 FY’24, the segment achieved volumes of 513 MU.
The Green Term-Ahead Market (G-TAM) achieved 90 MU volume in September’23, with average monthly price of Solar- Rs 5.69/unit and for Non-Solar- Rs 6.74/unit and for Hydro- Rs 6.43/unit. The G-TAM segment achieved 235 MU during Q2 FY’24.
Renewable energy certificate market (Rec market)
A total of 5.15 lac RECs (equivalent to 515 MU) were cleared in the trading session at IEX held on Wednesday, 27th September, at a price of Rs. 500/REC. A total of 13.91 lac RECs (equivalent to 1391 MU) were traded during Q2 FY’24.
The next REC trading session at the Exchange is scheduled on Wednesday, 25th October ‘23.
Energy saving certificates (ESCerts)
During September’23, 1.06 lac ESCerts (equivalent to 106 MU) were traded on IEX, at the floor price of Rs. 1840 per ESCert. A total of 2.80 lac ESCerts (equivalent to 280 MU) were traded in Q2 FY’24.
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