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IEX introduces renewable energy generators to value-added services

In September of this year, the Indian Energy Exchange was able to trade 8,997 MU of power, up 59% year on year. As per the National Load Dispatch Center’s national peak demand, power demand data increased by 2% YoY on September 21 to 180.7 GW, highest ever peak demand, while the energy consumption remained unchanged at 114.5 BU.

The Exchange Market experienced a large increase in volume for the very second quarter of fiscal year 2022. During the second quarter, the electricity market reached 25,857 MU volume, representing a 57 percent year-over-year increase across all market categories.

IEX is pleased to announce the launch of Value-Added Services (VAS) for the renewable energy generators, as part of its customer-centric efforts. The IEX website provides access to these services (www.iexindia.com). Renewable generators interested in services like Generation Forecasting, Qualified Co-ordinating Agency (QCA), as well as Analytics solutions, among others, can contact IEX’s best-in-class service suppliers at low costs. We’re excited to welcome Climate Connect as the first empanelled service provider, and we’re looking forward to welcoming future service providers who want to join us on this exciting path.

On September 21, the day-ahead market transacted 6,418 MU volume, with an average monthly price of Rs 4.4 per unit. The day-ahead sector on the Exchange transacted 17,305 MU in the very second quarter of 2022, representing a 26 percent YoY increase. To fulfil their limited supply needs competitively and flexibly, distribution utilities are increasingly turning to the day-ahead market.

During the month, the term-ahead market, which includes intra-day, contingency, daily, and weekly agreements, traded 193 MU, up 81 percent year on year. The term-ahead market exchanged a net of 1,571 MU in the second quarter, representing a stunning 438 percent year-over-year increase.

Real-time electricity market exchanged 1,843 MU volume, up 162 percent year over year. The market recorded a cumulative trade of about 5,298 MU in the second quarter, representing a strong 125 percent year-over-year increase. The steady rise of real-time electricity market reflects an increasing reliance on distribution utilities and industry to achieve the most efficient power demand-supply matching in real-time.

The green term-ahead market reached 543 MU volume, up 555 percent year over year. The market saw cumulative trade of about 1,682 MU in the second quarter. As additional utilities and the C&I consumers join the market to satisfy their energy and RPO needs in a flexible, integrated and competitive manner, the market’s participant base has grown significantly.

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