The power crisis in India has provided new ground for the country’s electricity exchanges to promote energy trading at high prices.
The country’s largest power exchange India Energy Exchange traded electricity on 10.06 per unit (average monthly market clearing price) in April, a 172% year-on-year increase, in the next day market where volumes stood at 4,114 MU during the month.
Prices also remained stable in the Real Time Market (RTM) with IEX achieving 1,704 MU volume at the Average Monthly Price. 9.55 per unit. The highest single-day volume of 98.97 MU was achieved on April 30. During the month, 576 participants transacted on the exchange’s RTM market.
In the first month of the new financial year 2023, IEX achieved 7,574 MU volumes across all market segments including 6,989 MU in conventional power market, 336 MU in green power market and 249 MU (2.49 lakh Cert) in REC market. , Volumes declined by 1.7% as compared to Apr’21 on account of power supply constraints, which also led to higher clearing prices across all market segments.
As per the electricity demand data published by the National Load Despatch Centre, 133 BU saw an 11% year-on-year growth in energy consumption during April’22, while the national peak demand of 207.11 GW saw a 13% year-on-year growth.
On March 21, 2022, CERC had notified the Fifth Amendment to the Open Access to Inter-State Transmission Regulations and subsequently it approved the procedure with respect to the National Open Access Registry (NOAR) – a framework for facilitating open access. Centralized automated technology based platform. Hosted, powered and implemented by POSOCO from Sunday May 1, 2022.
IEX has integrated its platform with NOAR on 1st Sunday, May 2022 for all market segments – DAM, G-DAM, RTM, TAM and G-TAM. In future, registration in NOAR will be a prerequisite for both collective as well as bilateral transactions in the short-term electricity market. NOAR will facilitate seamless communication, process simplification, greater transparency, eliminating the scope of human intervention, thereby achieving greater efficiency and facilitating the growth of the electricity market.