Power trade volume rises 37% to 27.6 BU at IEX in December quarter

Power trade volume at Indian Energy Exchange (IEX) rose 37 per cent year-on-year to 27.6 billion units (BU) in the December quarter, mainly due to higher electricity consumption.

“During the quarter (October-December), volumes on the Exchange grew by 37 per cent YoY (year-on-year) with 27.6 BU volumes traded versus 20.1 BU in Q3 FY21.

The growth in volumes was driven by a substantial increase in electricity consumption as well as the resurgence of trading in RECs and ESCERTs,” an IEX statement said.

According to the statement, the real-time market continues to be one of the fastest-growing electricity market segments on the exchange, achieving a growth of 70 per cent y-o-y, with 4.8 BU of volumes traded during the quarter.

The green market, including the day ahead and term ahead market, cumulatively traded 1.2 BU during the quarter and contributed 5 per cent to overall electricity volumes.

On the REC (renewable energy certificate) front, a total of 38.28 lakh certificates and 2.86 lakh energy saving certificates (ESCERTs) were traded during the quarter.

On Monday, IEX posted a nearly 39 per cent year-on-year rise in consolidated net profit to Rs 80.73 crore in the December quarter and also announced a 100 per cent interim dividend for this fiscal at the rate of rupee one per share with the face value of rupee one.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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