Spot power market grows 47% YoY in Jan

NEW DELHI: Spot electricity market at the registered an all-time high volume of 7,434 million units in January, up 47% over the same period last year, an official statement said.

According to the data published by the National Load Dispatch Center, the national peak demand touched 190 GW on January 30, seeing 11% YoY growth while the energy consumption grew 4.7% YoY during the month.

The day-ahead market of IEX traded 5584 MU and saw a notable 17% YoY growth in January’21. The market registered ample availability of power with the total sell bids at 10074 MU being almost 2X of the cleared volume, the statement said.

The term-ahead market comprising intra-day, contingency, daily and weekly contracts traded 524 MU volume during January’21 recording a significant 93% YoY increase.

The real-time market registered the highest ever monthly volume of 1233 MU in January since commencement on June 1, 2020, achieving 9.2% MoM growth. The market achieved its highest-ever single day volume of 55.75 MU on January 18. The sell-side liquidity was two times of the cleared volume resulting in market price of Rs 3.01 per unit. About 321 participants participated in the market during the month, the statement said.

Since its launch, the real-time market has cumulatively traded 6936 MU.

The Green Term Ahead Market registered a volume of 92.4 MU during the month comprising 24 MU in solar segment and 68.4 MU in non-solar segment.

A total of 24 participants participated during the month with distribution utilities from Haryana, Bihar, New Delhi, West Bengal, Karnataka, and Telangana among others, as the key participants. The market has traded 641 MU cumulatively since its launch on August 21, 2020.

The REC trading session which was scheduled on January 27, 2020 could not take place due to the stay order from APTEL in response to the petitions filed by a few Renewable Energy Associations against the CERC order dated June’20 regarding revision in the floor and forbearance prices of REC.