India Energy Exchange records highest ever power trade of over 3 billion units in September

The Indian Energy Exchange (IEX) on Wednesday said that its platform registered a record high trade reaching 3.63 billion units (BU) in September with an average price of Rs 2.43 per unit of electricity.

IEX said that the Day-Ahead Market traded 3,630 Million Units (MU) in September, the highest ever monthly trade since the inception of IEX in 2008 out of 6,277 MUs total sell bids.

Despite of competitive Market Clearing Price (MCP) for September at Rs 2.43 per unit, demand remained high, IEX said in a statement.

“The market cleared at single-price on four days - 1st, 3rd, 4th and 12th September, achieving the One Nation, One Grid and One Price aspiration of the Government,” IEX said in a statement.

The highest ever peak demand of 156 GW was recorded in the country on September 8, IEX stated.

On a daily average basis, 121 MUs were traded, 9% increase over 111 MUs traded last month, the report stated. 

The open access consumers accounted for about 60% of volume traded while rest was on account of distribution companies.

With average daily sell bids at 8,719 MW and purchase bids at 6,109 MW, the market remained buyer friendly, IEX said in a statement.

North-East, East and West had average Area Clearing Price (ACP) at Rs 2.35 per unit whereas North and South India’s ACP were at Rs 2.73 and Rs 2.41 per unit respectively.