Indian Energy Exchange (IEX) reported a 45 per cent increase in power trade volume during September 2020 compared to the same month last year. But despite the higher volumes, the average market clearing price in the month under review was 3 per cent lower because of robust sell-side liquidity, a company statement said.
According to IEX, the average market clearing price at ₹2.69 per unit saw a decline of 3 per cent on a year-on-year basis over ₹2.77 per unit in September 2019. This would be helping both the distribution utilities and industries to accrue significant financial savings.
"The day-ahead market cleared volume of 4,781 Million Units (MU) during the month. The market continued to witness high sell-side liquidity with the total sell bids at 9,669 MU being more than twice of the cleared volume," IEX said.
"Attractive prices and ample availability supported the southern, western and northern state distribution utilities to leverage the Exchange market for meeting their short-term electricity requirements as well as for replacement of costlier power in order to optimize their overall cost of power procurement," the IEX statement added.
IEX said that it also commenced trading in the green term-ahead market on August 21, 2020. Presently, the market offers to trade in intraday and day-ahead contracts in both solar and non-solar segments.
The market has registered volume of 82.92 MU during September 2020, IEX added.