Mumbai, 05 February 2024: Indian Energy Exchange, India’s premier electricity exchange, achieved the highest ever total volumes in January 2024, reaching 10,893 million units (MU) – marking a 26.1% year-over-year increase. This volume comprises of 9,137 MU from the conventional power market segment, 236 MU from the green market segment, and 15.20 lakh Renewable Energy Certificates (RECs) (equivalent to 1,520 MU).

According to government data published in January’24, the country’s energy consumption reached 133.8 BUs, representing a 6 % increase on a year-on-year basis. The Market Clearing Price in Day Ahead Market during January ‘24 was Rs. 5.83/unit, down approximately 6% year-on-year, due to easing supply side constraints. Increased electricity consumption coupled with easing supply side constraints led to an increase in the volumes of electricity traded on the Exchange which is expected to continue going forward.

ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET

The Day-Ahead Market (DAM) volume was at 5,540 MU in January ’24, as compared to 4,893 MU in January ’23, registering an increase of 13.2% YoY.

The Real-Time Electricity Market (RTM) volume increased to 2,380 MU in January ‘24, from 2102 MU in January’23, registering an increase of 13.2 % YoY.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 1,217 MU during January ’24, higher by 34.9% on YoY basis.

The longer duration contracts have demonstrated steady growth throughout the year. Notably, with this growth momentum, volumes exceeded 10 BU mark on an annual basis (year-to-date) in FY’24, increasing by more than 600% YoY.

*PowerX is the price index of Indian Energy Exchange (IEX) and is calculated based on weighted average price of Day-Ahead Market and Real-Time Market discovered for the previous day delivery.

GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 236 MU volume during January’24.

The Green Day-Ahead Market (G-DAM) achieved 210 MU volume during the month, with a weighted average price of Rs 5.87 per unit. The segment saw participation from 189 market participants during the month.

The Green Term-Ahead Market (G-TAM) achieved 26 MU volume in January ‘24, with average monthly price of Non-Solar- Rs 6.57/unit.

RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)

A total of 15.20 lac RECs (equivalent to 1520 MU) were traded in the trading sessions held on 10^th January ’24 and 31^st January’24, at a clearing price of Rs. 360/REC. This is the highest REC volume in the current financial year.

REC Price on the exchange has been experiencing a downward trend and is currently at its lowest levels this financial year. This presents an opportunity for obligated consumers (Discoms, Open Access Consumers and Captive Power Producers) to meet their Renewable Purchase Obligations (RPO) at more affordable rates.

The next REC trading sessions at the Exchange are scheduled on 14^th February’24 and 28^th February’24.

The post MEDIA RELEASE: IEX POWER MARKET UPDATE, JANUARY’24 appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Mumbai, 06, November 2023: Indian Energy Exchange, India’s premier energy exchange, achieved 9260 MU total electricity volume in October 2023, registering an increase of 21% on YoY basis.  IEX achieved 9,483 MU overall volume, including 2.17 Lac Renewable Energy Certificates (RECs) (equivalent to 217 MU) and 5,814 Energy Saving Certificates (ESCerts) (equivalent to 5.8 MU). The overall volume traded during October increased 18% on YoY basis.

According to data published by GRID-INDIA, in October ’23, the country’s energy consumption reached 139 billion units, marking a substantial 22% year-on-year increase due to a surge in electricity demand owing to increase in electricity consumption, below-average rainfall in October, and a lower base from the same month last year. This upsurge in power demand prompted DISCOMs to actively purchase power on the exchange to meet the increased demand, thereby leading to a significant increase in trade volumes on IEX.

This surge in demand pushed Day-Ahead Market (DAM) prices on the Indian Energy Exchange (IEX) to Rs. 6.45 per unit, representing a substantial 68% year-on-year increase on a lower base price from the same month last year.

.

ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET

The Day-Ahead Market (DAM) volume increased to 4,742 MU in October ’23, from 4,379 MU in October ’22, growing 8.3 % YoY.

The Real-Time Electricity Market (RTM) volume increase to 2,402 MU in October ‘23, from 2,265 MU in October ’22, registering an increase of 6.1% YoY.

The RTM segment enables distribution utilities and industries with greater flexibility and efficient optimisation of portfolios by balancing their power demand-supply on a real-time basis.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 1,911 MU during October ‘23, higher by 207.6 % on YoY basis.

*PowerX is the price index of Indian Energy Exchange (IEX) and is calculated based on weighted average price of Day-Ahead Market and Real-Time Market discovered for the previous day delivery.

GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 188 MU volume during Ocotber’23

The Green Day-Ahead Market (G-DAM) achieved 180.80 MU volume during the month, with a weighted average price of Rs 6.37 per unit. The segment saw participation from 194 market participants during the month.

The Green Term-Ahead Market (G-TAM) achieved 7.23 MU volume in October ‘23, with average monthly price of Non-Solar- Rs 8.40/unit

RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)

A total of 2.17 lac RECs (equivalent to 217 MU) were cleared in the trading sessions held on 11^th October’23 and 25^th October’23, at a clearing price of Rs. 380/REC and Rs. 420/REC respectively.

The next REC trading sessions at the Exchange are scheduled on 08^th November ’23 and 29^th November’23.

ENERGY SAVING CERTIFICATES (ESCerts)

During October’23, 5,814 ESCerts (equivalent to 5.8MU) were traded on IEX, at the floor price

INDIAN ENERGY EXCHANGE LIMITED

IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy and certificates including renewable energy certificates as well as the energy saving certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the energy market in India while also enhancing the speed and efficiency of trade execution. The Exchange is ISO Certified for quality management, Information security management and environment management since August 2016. The Exchange is a publicly listed company with NSE and BSE since October 2017 and is approved and regulated by Central Electricity Regulatory Commission since 27 June 2008. For further details, log on to: www.iexindia.com

The post IEX POWER MARKET UPDATE, OCTOBER appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Mumbai, Friday, 03 November 2023: The key highlights of the unaudited consolidated financial results for the second quarter ending September 30, 2023, as declared by the Company on 02 November, 2023, are listed below:

(All amounts represented in the table are in Rs Crores)

BUSINESS AND FINANCIAL PERFORMANCE HIGHLIGHTS

During the quarter, the Exchange recorded a trading volume of 26.53 BU, an increase from 23.12 BU in Q2 FY’23, marking a growth of 15% YoY. This volume includes 24.07 BU from the conventional power market and 747.64 MU from the Green Market segment. The Exchange also traded 13.91 lakh Renewable Energy Certificates (REC), equivalent to 1391 MU, and 2.79 lakh ESCerts, equivalent to 279 MU.

On a consolidated basis, the revenue for Q2 FY24 saw a YoY increase of 17%, rising from Rs. 113.8 Cr. in Q2 FY23 to Rs. 133 Cr. in Q2 FY24. The PAT grew by 21.5% YoY, moving from Rs. 71.2 Cr. in Q2 FY23 to Rs.86.5 Cr. in the current quarter.

*PowerX is the price index of Indian Energy Exchange (IEX) and is calculated based on weighted average price of Day-Ahead Market and Real-Time Market discovered for the previous day delivery.

Power demand was higher than anticipated for the monsoon months, with peak power demand reaching nearly 240 GW in September first week. States like Maharashtra, Uttar Pradesh, Gujarat, and Tamil Nadu witnessed soaring demand this quarter.

On the fuel side, India’s coal production increased by a robust 16.2 % YoY to reach 205 million tonnes in Q2 FY24 and E-auction coal premium continued its decline since the beginning of this financial year. This improved supply side scenario resulted in increased sell liquidity but an unexpected surge in power demand kept prices higher on the Exchange during the second quarter.

The average market clearing price in the DAM segment during Q2 FY24 period was Rs. 5.88/unit compared with Rs.5.40/unit in the same quarter last year, higher by nearly 9% over Q2FY23.

In October 2023, IEX launched High-Price Term Ahead Market (HP-TAM) and acquired 10% stake in Enviro Enablers India Private Limited (EEIPL).

On the gas market front, in Q2FY24, the Indian Gas Exchange (IGX) generated total volumes of 195 lakhs MMBtu during Q2 of FY ’24, a jump of 262% over the same quarter last fiscal. The volume jump was largely on the back of increased domestic gas volumes and decreased gas prices compared with spot prices (WIM).

For Q2FY24, IGX posted a PAT of Rs. 7.85 crore, a significant increase from Rs. 2.42 crore in Q2FY23, reflecting a growth of 224%.

POWER SECTOR HIGHLIGHTS UPDATE

On the power sector front, electricity consumption in India for Q2 FY24 stood at 435.8 BU, a growth of 13% YoY. By the end of Q2 FY 2024, India’s total installed capacity stood at 425 GW, out of which 179 GW was contributed by renewables.

India remains on track to attain its target of achieving 50% of energy consumption from non-fossil fuel sources by 2030.

The post INDIAN ENERGY EXCHANGE (IEX) ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDING SEPTEMBER 30, 2023 appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The post DVC has been honoured with the IEX Excellent Award 2023 at Delhi. appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.