Monday, October 18, 2021
HomeLet's build a better worldGreen EnergyIEX’s Green-Term Ahead Market Traded 1.68 BU in Q3 2021

IEX’s Green-Term Ahead Market Traded 1.68 BU in Q3 2021


The Indian Energy Exchange (IEX) traded 1.68 billion units (BU) of renewable energy in the third quarter (Q3) of the calendar year (CY) 2021.

The exchange traded 8.99 BU of energy during September, with a 59% YoY growth, across all market segments. In Q3, the market traded a volume of 25.86 BU, a 57% growth across market segments compared to the same quarter last year.

Energy consumption was flat during September at 114.5 BU, while peak power demand increased 2% to 180.7 GW, compared to the same period last year.

Green Term-Ahead Market

In September 2021, the green term-ahead market traded 543 million units (MU) of renewable energy, a 555% YoY growth. The traded volume increased 248% in September 2021 compared to 147 MU traded in the previous month.

IEX said the green market witnessed an increase in the participant base as more utilities and commercial and industrial consumers participated to meet their energy and renewable energy procurement requirements flexibly and competitively.

Day-Ahead, Term-Ahead, and Real-Time Electricity Market

In September 2021, the day-ahead market traded 6.41 BU at an average monthly price of ₹4.4 (~$0.059)/kWh, compared to 6.64 BU with an average of ₹5.06 (~$0.069)/kWh in the previous month.

In Q3 2021, the day-ahead market traded 17.3 BU and registered a 26% growth compared to the same quarter last year.

The term-ahead market comprising contingency, intra-day, daily, and weekly contracts traded 193 MU during September 2021 and recorded an 81% YoY increase. The traded volume in the term-ahead market during the quarter grew 438% YoY to 1.57 BU.

Meanwhile, the real-time electricity market traded 1.84 BU in September. The market traded a volume of 5.29 BU during the quarter, which was a 125% YoY growth. The real-time market’s consistent growth indicates growing reliance of distribution utilities and industries to balance power demand-supply in real-time most efficiently.

Renewable Energy Certificates

The Renewable Energy Certificates trading session scheduled on September 29, 2021, was canceled due to a stay order from the Appellate Tribunal for Electricity in response to the petitions filed by the Green Energy Association.

Energy-saving certificates

IEX will soon commence trading of Energy Saving Certificates under Perform Achieve & Trade Cycle-II (PAT-II) program, following a notification by the Bureau of Energy Efficiency, Ministry of Power. The program aims to achieve a total power savings of 8.87 MTOE and covers 621 designated consumers across 11 energy intensive industries.




Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments