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IEX announces performance for March 2020

Posted On: 2020-04-03 18:08:46


Today, as a nation we are faced with the onerous responsibility of ensuring uninterrupted power supply to the public utilities, the stressed healthcare ecosystem, communication providers, related businesses that support these and to all residential consumers in times of social distancing due to CoVID crisis.

At IEX, we recognize Power as the lifeline of our country - at a time like this more than ever before - and stands firmly by the country to continue 24X7 uninterrupted access to our platform backed by operational excellence, transparent and competitive price discovery.

In March'20, the electricity market at IEX saw a trade of 4,291 MU - the Day-Ahead Market (DAM) traded 3,971 MU during the month and saw 18% YoY growth while the Term Ahead Market (TAM) traded 320 MU and recorded 30% YoY growth. The southern distribution utilities continued preference for TAM contracts.

The total sell bids in day-ahead market were 12,207 MU and the buy bids at 4,545 MU. The sell-bids being over 2.5X the buy bids imply surplus power availability on the platform.

The average market clearing price in DAM at ~Rs 2.46 per unit saw a noteworthy decline of 21% this month over the price of Rs. 3.12 per unit in March'19, offering the distribution utilities and discoms a compelling opportunity to reduce their financial burden.

With ample power availability and low prices, the distribution utilities and open access customers can access the IEX platform for their uninterrupted power requirement during this hour of need. Many distribution utilities in the country as well as critical sectors like healthcare, public utilities in the wake of the pandemic, are actively leveraging the exchange platform to optimize their power procurement costs.

One Nation One Price prevailed for 24 days during the month.

According to the NLDC data, on an all India basis, the peak demand was at 170 GW in March'20 over 169 GW in March'19 growing by a marginal 1%.

RENEWABLE ENERGY CERTIFICATE MARKET

On 26th March, the REC Trading Session at IEX saw a total trade of 5.20 lac Renewable Energy Certificates comprising of 4,80,379 Non-Solar RECs and 39,299 Solar RECs.

The price for Solar RECs at Rs. 2400 per REC continued to be at the ceiling price prescribed by the CERC. The price has been at ceiling since October'19. The price for non-Solar RECs (issued after 1.4.17) at Rs. 1,000 decreased 44% from Rs. 1,800 in February'20.

Shares of Indian Energy Exchange Ltd was last trading in BSE at Rs.134.2 as compared to the previous close of Rs. 129.1. The total number of shares traded during the day was 3553 in over 337 trades.

The stock hit an intraday high of Rs. 137 and intraday low of 128.7. The net turnover during the day was Rs. 467193.


Source: Equity Bulls

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