Indian Energy Exchange (IEX) achieved its highest monthly volume in the current financial year in January 2023. IEX reported a total volume of 8,639 million units (MU) in January 2023, posting a 2 percent month-on-month growth compared to December 2022.

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The total volume included Green Power trade of 347 MU and 3.95 lakh renewable energy certificates (equivalent to 395 MU).

Its total electricity volume in the month rose by 9 percent on a year-on-year basis and 4 percent on a month-on-month basis to 8,245 MU.

The exchange attributed the highest volume in January 2023 to improved conditions of the supply side, driven by a gradually rising supply of coal and easing prices of e-auction coal.

The volume of the exchange has been rising consecutively each month since November 2022.

Further, the Government’s initiatives have also helped in improving the inventory of coal at power plants, and this is expected to decrease the clearing price on IEX over the coming months.

This shall in turn lead to opportunities for cost optimisation to Discoms and Open Access consumers, leading to higher volumes on the exchange.

Data provided by the National Load Dispatch Center shows that a total of 126 billion units of energy was met in India in the month of January 2023, up 13 percent year-on-year.

The energy exchange’s Day-Ahead Market volume reduced in the month from 5,001 MU in December 2022 to 4,893 MU in January 2023.

Meanwhile, the Real-Time Electricity Market witnessed a 33 percent year-on-year growth and a 19 percent MoM surge in trading volume at 2,102 MU during January 2023, with 707 participants in the segment in the month.

IEX’s Green Day-Ahead Market witnessed 208 market participants in January with 286 MU volume having a weighted average price of Rs 6.3 per unit.

The energy exchange’s shares ended 0.94 percent higher at Rs 139.5 per piece on Monday.

(Edited by : Rukmani Krishna)