IEX Green Futures Market traded at 1.68 BU in Q3 2021



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

The exchange traded 8.99 energy BUs in September, growing 59% year-on-year, across all market segments. In the third quarter, the market traded a volume of 25.86 BUs, representing a growth of 57% in all market segments compared to the same quarter of last year.

Power consumption remained stable in September at 114.5 BUs, while peak electricity demand increased 2% to 180.7 GW, compared to the same period last year.

Green futures market

In September 2021, the green futures market traded 543 million units (CU) of renewable energy, representing growth of 555% year-on-year. Volume traded increased 248% in September 2021 compared to CU147 traded the previous month.

IEX said the green market has seen an increase in the number of participants as more utilities and commercial and industrial consumers have participated to meet their energy and renewable energy supply requirements in a flexible and competitive manner.

Up-to-date, forward and real-time electricity market

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

In the third quarter of 2021, the day-ahead market traded at 17.3 BU and recorded a growth of 26% compared to the same quarter of last year.

The futures market comprising emergency, intraday, daily and weekly contracts traded at CU193 in September 2021 and recorded an 81% increase year-on-year. Volume traded on the futures market during the quarter increased 438% year-on-year to 1.57 BU.

Meanwhile, the real-time electricity market traded at 1.84 BU in September. The market traded 5.29 BUs in volume during the quarter, growing 125% year-on-year. The constant growth of the real-time market indicates an increasing reliance on distribution utilities and industries to balance real-time electricity supply and demand as efficiently as possible.

Renewable energy certificates

The renewable energy certificate trading session scheduled for September 29, 2021 was canceled due to a stay order from the Electricity Appeal Tribunal in response to motions filed by the Green Energy Association.

Energy saving certificates

IEX will soon begin trading Energy Saving Certificates under the Perform Achieve & Trade Cycle-II (PAT-II) program, following a notification from the Office of Energy Efficiency of the Ministry of Energy. The program aims to achieve total energy savings of 8.87 MTEP and covers 621 designated consumers in 11 energy-intensive industries.



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