NEW DELHI: The total trade volume of the Indian Energy Exchange (IEX) dropped by 13% to 7,972 million units (MU) in October 2022, due to the high volume base of last year. The trade volume is lower by 2% on Month-on-Month (MoM) basis due to reduced REC (Renewable Energy Certificates ) trading. According to the Indian Energy Exchange (IEX), it achieved 7,972 MU volume in October 2022, including green Power trade of 403 MU, and 3.58 lakh RECs (equivalent to 358 MU).
“Improved supply of domestic coal led to easing of supply side constraints, resulting in decline of prices on IEX. The average clearing price in the Day-ahead market was Rs 3.83 in October, which was lower by 32% on MoM basis and 52% year-on-year (YoY) basis,” said IEX in a statement.
It said further correction in prices due to improvement in coal availability and reduction in demand due to onset of winters will provide opportunity for cost optimisation by Discoms and Open Access consumers, resulting in increased volumes on the exchange.
The energy consumption at 115 BU during October 2022, increased 1% on YoY basis, however, it declined 10% on MoM basis. The Real-Time Electricity Market achieved 2265 MU volume during the month, registering a 13% YoY growth. The highest single-day volume of 124 MU was achieved on October 6, 2022.
“The consistent growth of the real-time electricity market is an indication of growing reliance of distribution utilities and industries to achieve power demand supply balancing in real-time in most efficient manner,” said IEX in a statement.