IEX POWER MARKET UPDATE: Day Ahead Market Trades 2,794 MU with Avg. MCP at Rs. 3.08 per unit, FEBRUARY 2019

Deepthi | Myequity news | Date : 05-03-2019 19:00:00 IST

The all India peak demand touched 162 GW on 5 February 2019 registering 3% increase over highest peak demand of 157 GW registered in February’18 as per NLDC reports.

On all India basis, the energy supplied in February’19 at 95 BU registered marginal increase of 3% from 92 BU compared to last year.

The electricity market at IEX – the Day Ahead- Market (DAM) and Term Ahead-Market (TAM) combined traded 2,879 MU in February’19 registering a decline of 15% over 3,343 MU traded in February’18.

DAY-AHEAD MARKET (DAM)

Lower DAM volume of 2,794 MU in February was primarily due to extended winters and thus subdued demand for power from northern and western states. In fiscal 2018-19 (April-Feb’19), IEX has traded 46,707 MU over 40,887 traded in the same period last year registering increase of 14%.

On a daily average basis in Feb’19 about 100 MU were traded.

The average Market Clearing Price (MCP) at Rs. 3.08 per unit registered 4% decline over Rs. 3.23 per unit in same month last year.

The day-ahead market experienced transmission congestion with volume loss of 62 MU representing 2% of the total traded volume. The congestion was mainly due to shutdown of Talcher Kolar Pole line leading to unavailability of transmission corridor, and thus increase in the market clearing price.

One Nation, One Price was realized only for 4 days during the month primarily due to constraints in southern import.

On daily average basis 722 participants traded in the market during the month.

TERM-AHEAD MARKET (TAM)


The Term-Ahead Market traded 84 MU in February’19 registering an increase of 67 MU over same month last year.

RENEWABLE ENERGY CERTIFICATE MARKET (REC)


The trading session held on Wednesday, 27 February’19 featured a total trade of 10,59,300 RECs comprising of 6,75,592 Non-Solar RECs and 3,83,708 Solar RECs. The trade saw an increase of about 172% YoY basis and 64% MoM basis. The distribution companies were the major buyers in February’19 REC trading session followed by Captive Users and Open Access Consumers.

Both Non-Solar and Solar REC continued to see low supply situation with buy bids exceeding the sell bids. The price for both Non-Solar RECs (Issued after 1.4.17) and Solar RECs of Rs 1395 per REC and Rs 1500 per REC saw a decline of 7% and 14% respectively on MoM basis.

In fiscal 2018-19 (year to date) IEX has cumulatively traded 80,21,412 over 72,49,454 traded in the same period last year registering increase of about 11%.

ABOUT IEX

IEX is the first and largest power exchange in India. Providing an automated trading platform for physical delivery of electricity, IEX enables efficient price discovery and offers participants the opportunity to trade in electricity contracts, Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates). The exchange platform increases the accessibility and transparency of the power market in India and enhances the speed and efficiency of trade execution. In August 2016, the Exchange received ISO Certifications - ISO 9001:2008 for quality management, ISO 27001:2013 for Information security management and ISO 14001:2004 for environment management. IEX is approved and regulated by Central Electricity Regulatory Commission (CERC) and has been operating since 27 June, 2008.


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