Indian Energy Exchange (IEX), on Friday, said it has achieved a total volume of 8,200 MU in February 2023, which was down 7 percent on a year-on-year basis. The volume includes Green Power trade of 341 MU, 3.74 lac RECs (equivalent to 374 MU), and 1.54 ESCerts (equivalent to 154 MU).

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The electricity volume on the exchange came in at 7,673 MU in February, which was 6 percent lower on a year-on-year basis and 7 percent lower on a month-over-month basis.

The average daily volume traded on the exchange rose by 5 percent month-over-month in the reported month. But the lesser number of trading days in February led to a decline of 5 percent month-over-month in the overall volume, the energy exchange added.

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IEX said sell-side liquidity continued to be affected due to high input costs. The unusually warm temperature witnessed in February across many parts of India led to an increase in demand for power. Demand for power also increased due to sustained momentum in economic activities.

The energy met in the country during February 2023 came in at 118 BU, 9 percent higher on a year-on-year basis, as per data published by the National Load Dispatch Center.

The company said the conducive policy and regulatory initiatives may ease the supply constraints in the coming months. These initiatives will lead to an increase in coal and gas-based generation, resulting in higher liquidity on the exchange in the coming months. This will provide cost optimisation opportunities to Discoms and Open Access consumers.

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IEX resumed trading of Energy Saving Certificates (ESCerts) on February 14, 2023, after a gap of 14 months. During the month, nearly 1.54 Lac ESCerts (equivalent to 154 MU) were traded on IEX, with a 97 percent market share.

First Published:Mar 3, 2023 10:22 PM IST