New Delhi, Dec 7: The average spot power price dropped by four per cent to Rs 2.73 per unit in November compared to the year-ago period at the Indian Energy Exchange.
The day-ahead market (DAM) volume at 4,860 MU (million units) recorded 43 per cent YoY (year-on-year) growth in November.
The DAM market continued to see high sell-side liquidity with total sell bids at 9,778 MU being twice that of the cleared volume (sales).
This enabled the market to maintain an attractive average market clearing price at Rs 2.73 per unit during November, a 4 per cent YoY decline over the price of Rs 2.85 during the same period last year, the Indian Energy Exchange (IEX) said in a statement.
Further, IEX traded electricity volume of 6,164 MU in November, 2020 registered a 61 per cent YoY growth.
Attractive power prices in the IEX market continued to yield greater financial savings for the distribution utilities and industries enabling them to build on and improve their financial liquidity as well as overall efficiency.
One Nation One Price prevailed during all 30 days of the month making Exchange the most reliable platform for power procurement, the IEX statement said.
The term-ahead market traded 245 MU volume during November, 2020.
The real-time electricity market (RTM) saw an all-time high volume of 894 MU in November since commencement on June 1, 2020 and registered a 10 per cent growth on a month-on-month basis.
The highest volume traded on a single day was 40.6 MU on November 29.
The RTM witnessed a significant sell-side liquidity with sell-side volume being 2,513 MU which was more than twice the buy-side liquidity.
This also ensured a competitive average market price of Rs 2.75 per unit. Further, the market also continued to witness increased participation- a total of 318 participants traded in the market in November with the highest number of participants trading on a single day at 168 participants on November 19.
Over the past six months, the real time market has registered a cumulative volume of 4,574 MU.
The Green Term Ahead Market (GTM) registered a cleared volume of 164 MU comprising 145 MU in solar and 19 MU in non-solar.
Since its launch on August 21, 2020, the market has cumulatively traded over 459 MU volume.
A total of 23 participants traded during November (in GTM) and key participants included utilities from the States and Union Territories (UTs) such as: Telangana, Karnataka, West Bengal, Haryana, Dadar & Nagar Haveli, Daman & Diu, Delhi, Bihar, Maharashtra among others.
On December 4, IEX also announced addition of daily and weekly contracts in the green market, both solar and non-solar segments, besides the already existing intra-day and contingency contracts, to facilitate the market participants procure renewable energy over a longer duration. (PTI)
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