IEX Electricity Market witnessing a significant 76% YoY increase in October’20

The Indian Energy Exchange-traded electricity volume of 6743 MU in October’20 witnessing a significant 76% YoY increase. The national peak demand in the same period saw a 6% YoY increase and the energy consumption recorded a 12% YoY increase, according to the data published by the POSOCO. This trend indeed reinforces IEX positioning as the most preferred platform for the distribution utilities and the open-access consumers for meeting their power requirements most competitively and efficiently.

The day-ahead market volume at 5501 MU during the month saw a 62% YoY growth. Though the buy bids at 6163 MU saw a 57% YoY increase in volume during the month, the market continued to witness high sell-side liquidity with the total sell bids at 9804 MU being 1.8 times of the cleared volume. 

Moreover, despite the increase in buy bids, the average market clearing price at Rs. 2.74 per unit saw only a slight increase of 1% on YoY basis and 2% on MoM basis This has ensured that both the distribution utilities and industries accrue significant financial savings while leveraging the Exchange market for increasingly meeting their short-term electricity requirements at low cost.