The Indian Energy Exchange (IEx), India’s premier energy exchange, achieved 9,212 MU overall volume in March 2023, including green market trade of 391 MU, 8.69 lac RECs (equivalent to 869 MU) and 22,881 ESCerts (equivalent to 23 MU). The overall volume during the month was higher 12% on MoM basis, while it declined 4% on YoY basis.
The price during March 2023 was Rs.5.25/unit, lower 23% on MoM basis, due to cooler weather conditions. While high temperatures and increased demand are expected in the coming months, supply side liquidity should improve due to the various conducive policy and regulatory initiatives announced by the Government to increase coal and gas-based generation.
These are likely to result in improved sellside availability on the Exchange, leading to competitive prices and higher clearance for DISCOMs & Open Access consumers. IEX achieved 26,052 MU volume across all segments during Q4 FY ‘23, growing 7% over the previous quarter. Cumulatively for the fiscal year 2023, IEX traded 96.8 BU, a degrowth of 5% YoY basis, despite a highly constrained sell-side liquidity, which led to the price increasing by 35% on YoY basis. The energy met in the country during March ’23 stood at 128 BU, declining 2% on YoY basis, as per data published by GRID-INDIA.
The Day-Ahead Market (DAM) volume increased to 4,745 MU in March ‘23 from 4,664 MU in February ‘23, i.e., 2% growth on MoM basis due to favourable prices.
