IEX outperforms; rallies 5 per cent!

The green market was inaugurated formally by Minister of Power and New & Renewable Energy – RK Singh, on September 1, 2020. It furnishes a strong value proposition such as transparent and flexible procurement, competitive prices as well as payment security to participants.

Indian Energy Exchange’s green term-ahead market has cumulatively traded 2,744 MU of renewable energy in its first year, comprising 1,477 MU in the non-solar segment and 1,267 MU volume in the solar segment. In the first year, Vedanta Limited turned out to be the top buyer in the green market while Power Company Karnataka Limited (PCKL) emerged as the top seller. The market discovered an average price of Rs 3.75 per unit in the first-year average with a non-solar price at Rs 4.06 per unit and with an average solar price of Rs 3.48 per unit. 

Other highlights of the green market performance are as follows - 

• Maximum trade volume in a single day – 153.1 MU on July 16, 2021 

• Maximum trade volume in a month – 726 MU in July 2021 

• Highest no. of participants in a month – 50 in July 2021 

The green market received an overwhelming response, reaching a robust participant base close to 100 in a short period of time. Distribution companies such as DNH, Tata Power Company, CESC, Haryana, and DVC along with industrial consumers like Jindal Steel, Vedanta, SAIL, and Tata Steel have been vital participants in the buy side. Similarly, distribution companies from Tamil Nadu, Karnataka, Telangana and Himachal including RE generators like Bhilangana Hydro Power, Amplus Green, Choudhary Power, Adani solar, and MRN Cane Power have been participants on the sell-side. 

The green market was inaugurated formally by Minister of Power and New & Renewable Energy – RK Singh, on September 1, 2020. It furnishes a strong value proposition such as transparent and flexible procurement, competitive prices as well as payment security to participants. 

In a filing with the exchange, the company said, “The green power generators, and distribution utilities, which have surplus renewable energy, are now participating in the market to sell this surplus to other deficit entities, facilitating them to meet their energy and RPO requirements in an integrated way. The market has been a great leveller towards addressing the RE integration challenges.” 

Indian Energy Exchange is a power exchange, licensed by Central Electricity Regulatory Commission (CERC) for spot trading in power/electricity and trading of renewal energy certificate (REC) along with energy-saving certificates (ESCerts). The main activity of the company is to provide an automated platform and infrastructure for carrying out trading in electricity units for physical delivery of electricity. 

The scrip of IEX jumped 5 per cent on Monday to touch a high of Rs 409.80 per share on BSE.