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Power Market sets new milestone with all time high monthly volume of 9538 MU in Aug 21, achieving 74% YoY growth

by TLN Team September 3, 2021September 3, 2021
written by TLN Team September 3, 2021September 3, 2021
Power Market sets new milestone with all time high monthly volume of 9538 MU in Aug 21, achieving 74% YoY growth

The electricity market at the Indian Energy Exchange achieved a new milestone with a record all time high monthly volume of 9538 MU achieving 74 % YoY growth in August’21.

According to the power demand data published by the National Load Dispatch Center, the national peak demand in August’21 at 196 GW saw an increase of 17% YoY while the energy consumption at 129.51 BU also grew 17 % YoY. 

On one hand, growth in the economic and industrial activities led to the increase in demand for power on the other hand the supply side constraints such as high cost of imported coal and LNG as well as lower wind power generation led to the increase in the electricity prices discovered on the Exchange. The market however continued to work uninterrupted facilitating the distribution utilities and industries in addressing the increased power demand in the most flexible, competitive, transparent, and efficient manner.

DAY- AHEAD, TERM- AHEAD & REAL-TIME ELECTRICITY MARKET

The day-ahead market traded 6649 MU volume during the month with average price of electricity at Rs 5.06 per unit. The market saw 48 % YoY growth. 

The term-ahead market comprising intra-day, contingency, daily & weekly contracts traded 617 MU during the month recorded 401% YoY growth.  

The real-time electricity market continued to see exceptional performance with the monthly volumes of 1859 MU seeing a significant 116 % YoY growth. The average monthly price of the market was Rs 4.64 per unit.

GREEN MARKET

On 21 August, the Green Market segment completed one year and achieving a cumulative volume of ~2867 MU since commencement on 21 August’20.

During the month, the green market segment traded 413 MU volume comprising 147 MU under solar segment and 266 MU under non-Solar segment. The market saw Rs 3.56 per unit as the average price in solar and Rs 4.85 per unit in non-solar segments with overall average price being Rs 4.21 per unit. 

There were 43 market participants during the month which included distribution utilities from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Goa, Maharashtra, Punjab, DNH, Daman & Diu, Assam and Tamil Nadu among others. 

RENEWABLE ENERGY CERTIFICATES

The REC trading session which was scheduled on Wednesday 25 August 2021 did not take place due to a stay order from Appellate Tribunal for Electricity (APTEL), in response to the petitions filed by a few Renewable Energy Associations. 

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