The average market clearing price was Rs 4.74 per unit during the month, lower by 30 per cent over the corresponding month a year ago
The total trade volume of the Indian Energy Exchange grew by 8 per cent year-on-year to 8,251 million units (MU) in May.
The average spot power price during May 2023 was 30 per cent lower at Rs 4.74 per unit against Rs 6.76 per unit in May 2022, due to an improving supply-side scenario, leading to increased liquidity, and cooler weather conditions.
“Indian Energy Exchange achieved 8,251 MU overall volume in May 2023, including green market trade of 358 MU, 1.42 lakh RECs (equivalent to 142 MU) and 2.02 lakh ESCerts (equivalent to 202 MU). The overall volume during the month was higher by 8 per cent on YoY (Year-on-Year) basis,” an IEX statement said.
While an increase in power demand is expected in the coming months, the supply-side liquidity is likely to further improve due to enhanced coal supply, reduction in e-auction coal prices and consistently declining imported coal and gas prices.
This will lead to competitive prices and higher clearance for Discoms and Open Access consumers, it stated.
IEX commenced Tertiary Reserve Ancillary Services (TRAS) market segment from the delivery date, June 1, 2023, for Day-Ahead Market Ancillary Services (DAM-AS) and Real Time Market Ancillary Services (RTM-AS).
The Day-Ahead Market (DAM) volume increased to 4,066 MU in May 2023 from 3,224 MU in May 2022, growing 26 per cent year-on-year.
The average market clearing price was Rs 4.74 per unit during the month, lower by 30 per cent over the corresponding month a year ago.
The Real-Time Electricity Market (RTM) achieved the highest-ever monthly volume of 2,424 MU during May 2023, registering a 5 per cent year-on-year growth.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 358 MU volume during May 2023.