Indian Energy Exchange achieved 9,462 MU overall volume, in February'24, marking a 15.4% year-over-year increase. The Market Clearing Price in Day Ahead Market during February ‘24 was Rs. 4.93/unit, down approximately 26% year-on-year, due to increased sell liquidity. The sell bids on the exchange (Day Ahead Market plus Real Time Market) during the month increased by 47% on YoY basis.
According to government data published in February'24, the country's energy consumption reached 127.8BUs, representing an 8.5 % increase on a year-on-year basis.
Ministry Of Power issued amendments in the electricity late payment surcharge rules, 2024, requiring sale of URS power on exchanges. These rules also provide for penalty in terms of reduced fixed charges to GENCOS if they fail to offer URS power in the market. This will improve sell side liquidity on exchange platform and lead to competitive price discovery.
ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET
The Day-Ahead Market (DAM) volume was at 4,722 MU in February'24, as compared to 4,664 MU in February'23.
The Real-Time Electricity Market (RTM) volume increased to 2,340 MU in February‘24, from 1,714 MU in February'23, registering an increase of 36.5 % YoY.
Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 1,487 MU during February'24, higher by 55.9 % on YoY basis.
GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 298 MU volume during February'24.
The Green Day-Ahead Market (G-DAM) achieved 266 MU volume during the month, with a weighted average price of Rs 5.5 per unit. The segment saw participation from 214 market participants during the month.
The Green Term-Ahead Market (G-TAM) achieved 32 MU volume in February '24
RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)
A total of 6.14 lac RECs (equivalent to 614 MU) were traded in the trading sessions held on 14th February'24 and 28th February'24, at a clearing price of Rs. 360/REC and Rs. 347/REC respectively.
The next REC trading sessions at the Exchange are scheduled on 13th March'24 and 27th March'24.