Hindustan Power Exchange (HPX) on Tuesday said it has reached the milestone of one billion units of power traded within six months of its launch.
With more than 360 market participants, HPX has also raced to register participants comprising 80 per cent buy volume of overall Day Ahead Market (DAM); 90 per cent sell volume of Green DAM and 70 per cent buy of Real-Time Market (RTM), an HPX statement said.
HPX—promoted by PTC India, Bombay Stock Exchange and ICICI Bank—has reached the milestone of one billion units of power traded within six months of its launch, it stated.
It is now the number two exchange of the country in the contingency segment, and the total settlement registered on its platform was Rs 1,250 crore, it claimed.
Though eastern entities have contributed about 51 per cent in this amount since the commencement of operations of the exchange, the participation from Southern entities has increased in the last two months, and they contributed 41 per cent in December.
It is pertinent to note that all the southern states are registered on the exchange, and the foreseen potential of these states basis their past record would be 28 per cent buy side on DAM, 24 per cent buy on RTM, 12 per cent sell on DAM, 14 per cent sell on RTM, the statement said.
The exchange is presently offering trading in Contingency contracts, Green Contingency contracts, Term Ahead Market (TAM), Renewable Energy Certificates (REC), Day-Ahead Market (DAM), Green Day Ahead Market (G-DAM) and Real Time Market (RTM).
HPX, formerly known as Pranurja Solutions Ltd, is a recently launched electricity exchange in India. It commenced operations on July 6, 2022.