IEX power market trade up 90 pc in April at 7,707 MU

Indian Energy Exchange (IEX) said on Thursday that the electricity market entered the new fiscal year 2022 with 7,707 million units volume April, achieving 90.2 per cent year-on-year growth on the platform.

The day-ahead market traded 5,699 MU volume, achieving 54 per cent growth. The average monthly price at Rs 3.70 per unit witnessed 53 per cent increase over Rs 2.42 in the corresponding period in 2020.

The increase in price was primarily due to increase in demand and a sharp slump in electricity prices in April last year due to a stringent nationwide lockdown, IEX said in a statement.

The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 349 MU during the month.

The real-time market saw the highest ever monthly volume of 1,473 MU in April achieving 4.2 per cent month-on-month growth. It also recorded the highest single day volume of 68.36 MU on April 3.

IEX said the growing volume in real-time electricity market shows its acceptance by distribution utilities and industrial consumers as the go-to platform for addressing real-time electricity demand-supply balance in the most competitive and efficient manner with the delivery of power at just one-hour notice.

The green term-ahead market traded 186 MU volume during April comprising 78 MU in the solar segment and 108 MU in the non-solar segment, achieving a 262 per cent month-on-month growth.

A total of 34 participants participated with distribution utilities from Haryana, Bihar, Uttar Pradesh, West Bengal, Maharashtra, Karnataka and Telangana as key participants.

( With inputs from ANI )