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Indian Energy Exchange Registers 54% YoY Volume Growth In November

Indian Energy Exchange informed that real-time electricity markets recorded a 47 per cent YoY growth at 1,311 MU in November.

Indian Energy Exchange Registers 54% YoY Volume Growth In November
Indian Energy Exchange Registers 54% YoY Volume Growth In November -

Indian Energy Exchange (IEX) informed on Monday that it realised a 54 per cent growth in volume to 9,477 mega units (MU) in November. The real-time electricity market registered a 47 per cent year-over-year growth at 1,311 MU in November. The average monthly price stood at Rs 3.48 per unit. 

"The real-time electricity market has been seeing consistent growth in volumes since inception in June’20 as the market has been successfully facilitating the distribution utilities and industries in real-time demand-supply balancing in the most efficient and flexible manner," the exchange said. 

It added that the highest single-day volume of 56.16 MU was achieved on November 18. 554 participants had transacted in the market on the mentioned date, the exchange informed. 

The Day-ahead market recorded a 3 per cent year-over-year decline at 4,719 MU. The average monthly price in the market stood at Rs 3.1 per unit. "The average monthly price at Rs. 3.1 per unit saw a significant 62% MoM price reduction mainly due to increased liquidity on the supply-side with the sell-bids at 1.8X of the cleared volume. This ensured ample availability of power and competitive price of power thereby providing optimization opportunities to the distribution utilities, " the exchange mentioned. 

Additionally, the term-ahead market inclusive of contingency, daily and weekly contracts traded 302.7 MU in November. This was 23.4 per cent growth over the comparable period last year. 

 Segment-wise, conventional power cleared volume worth 6,333 MU, Green Power Market cleared 457 MU and certificate market comprising energy saving certificates and renewable energy certificates registered 2,687 MU in November. 

The exchange mentioned that November noted a 3.2 per cent year-over-year growth in national peak demand at 166.19 GW, as per power demand data from the National Load Dispatch Center. Energy Consumption recorded 2.1 per cent year-over-year growth at 100.4 billing units (BU). 

In November, the company had received shareholder approval to carry out a bonus issue wherein the shareholders would get two bonus shares for each share of the company they hold. It had also received approval to increase its share capital. 

The company has also received shareholders’ approval to increase the authorised share capital and consequent alteration in the capital clause of the memorandum of association. This was done to increase its liquidity. At the same time, help the stock be more affordable to investors. 

IEX intends to raise its share capital to Rs 100 crore. 

The stock closed 1.68 per cent or 251.35 points lower at Rs 251.35 on the BSE. 

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