March 9, 2021

IEX RTM trades 515.46 MU in first month

New Delhi: Indian Power Change on Wednesday stated its Actual Time Electrical energy Market has completed quantity of 515.46 million items within the first month of June 2020. A complete of 237 prospects participated within the new market section throughout the first month.

The newly commenced market section reported single day highest quantity of 36.09 million items on June 30, 2020 when 110 prospects participated within the numerous public sale periods held over a day.

The market noticed substantial sell-side liquidity at 1810 million units– 2.four instances of the purchase volumes at 742 million items and aggressive worth discovery, an official assertion stated.

Consequently, the common market clearing worth was at Rs 2.22 per unit, decrease than the day-ahead market common worth for June, at Rs 2.35 per unit.

The market facilitated unrequisitioned surplus era capability discover consumers but additionally facilitated mills to buy energy to fulfil obligations created because of outages, it stated. Raipur Energy and Raigarh Power Technology turned the primary mills to have purchased electrical energy to fulfill their dedication.

“The milestone of 515.46 MU quantity within the first month is admittedly a powerful accomplishment and has been potential because of sturdy elementary worth proposition of this new market section,” stated Rohit Bajaj, Head – Enterprise Improvement and Senior Vice President at Indian Power Change Restricted.

Andhra Pradesh Southern Energy Distribution Firm Restricted chairman Ok V N Chakradhar Babu stated “Actual Time Market is a boon to the cashflow constrained discoms to entry high quality energy on the most economical costs. On the similar time, assembly the exigent demand, block clever by the grid operator has change into painless.’’

Satish Chavan, Director Industrial, Maharashtra State Electrical energy Distribution Firm Restricted additionally added, “The actual time market was the need of the distribution firms. With the rising buy of infirm renewable power to fulfill RPO targets given by the regulator, I believe this want is fulfilled by authorities of India and Central Electrical energy Regulatory Fee (CERC) by offering RealTime Market to Distribution Corporations to fulfill the variation in load era stability with optimum value.”

The brand new market section was operationalised on the IEX platform at 2245 hrs on Could 31, 2020 for supply beginning mid-night on June 1, 2020.