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Power market beats pandemic, April trade up 90.2% YoY
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SME Times News Bureau | 07 May, 2021
Continuing its exceptional performance during the last fiscal, the
electricity market at the Indian Energy Exchange entered the new fiscal
year 2022 with 7707 MU volume in April 2021, achieving a 90.2 per cent
YoY growth.
According to the power demand data published by the
National Load Dispatch Centre, the national peak power demand was at 183
GW while the peak demand and power consumption registered close to 40
per cent YoY growth on a weak base.
While the growing electricity
consumption has been one of the key factors behind the consistent
performance of the Exchange, its robust value proposition in terms of
the most competitive prices, flexible, and efficient procurement
positions it as the most preferred destination for power procurement for
both the distribution utilities as well as the industrial consumers.
The
day-ahead market traded 5,699 MU volume in April, achieving a
significant 54 per cent YoY growth. The average monthly price at Rs 3.70
per unit witnessed 53 per cent increase over Rs 2.42 in the
corresponding period in 2020.
The increase in price was primarily
due to increase in demand and sharp slump in electricity prices in
April 2020 due to a stringent nationwide lockdown. The day-ahead market
saw ample availability of power with sell-bids at 1.48X of the cleared
volume during the month.
The term-ahead market comprising intra-day, contingency, daily & weekly contracts traded 349 MU during the month.
The
real-time market saw highest ever monthly volume of 1473 MU in April'21
achieving 4.2 per cent MoM growth. It also recorded the highest single
day volume of 68.36 MU on April 3. With sell-side bids at 1.8X of
cleared volume, the market continued to have ample availability of
power.
The growing volume in the real-time electricity market
shows its acceptance by distribution utilities and industrial consumers
as the go-to platform for addressing the real-time electricity
demand-supply balance in the most competitive and efficient manner with
the delivery of power at just 1-hour notice.
The green term-ahead
market traded 186 MU volume during April'21 comprising 78 MU in the
solar segment and 108 MU in the non-solar segment, achieving a
significant 262 per cent MoM growth.
A total of 34 participants
participated during the month with distribution utilities from Haryana,
Bihar, Uttar Pradesh, West Bengal, Maharashtra, Karnataka, and Telangana
among others as the key participants. The market has been enabling
distribution utilities, industrial consumers, and green generators to
trade in renewable energy in the most competitive and viable way.
During
the month, IEX commenced the Cross Border Electricity Trade (CBET) on
its platform marking a significant milestone in its endeavour to build
an integrated South Asian regional power market. As a first-of-its kind
initiative, the new market segment allows the Exchange market to expand
its reach beyond India to the South Asia region, thus supporting the
growth of energy ecosystem in the region in an efficient and sustainable
manner.
Nepal was the first country to trade in the day-ahead
market on the Exchange on April 17 April. The other South Asian
countries like Bhutan and Bangladesh are expected to join the platform
soon, and the market is likely to grow at a fast pace in the coming
months.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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