Indian Energy Exchange achieves 7972 MU volume in October 2022; Stock down 1%

The Indian Energy Exchange, India’s premier energy exchange has achieved 7972 MU volume in October 2022, including Green Power trade of 403 MU, and 3.58 lac RECs (equivalent to 358 MU).

The total volume on the Exchange in October 2022 was lower by 13% on yoy basis due to high volume base of last year, and lower by 2% on MoM basis due to reduced REC trading.

In a regulatory filing, the company said, “Improved supply of domestic coal led to easing of supply side constraints, resulting in decline of prices on IEX. The average clearing price in the Day-ahead market was Rs. 3.83 in October, which was lower by 32% on MoM basis and 52% on YoY basis.”

Going forward, further correction in prices due to improvement in coal availability and reduction in demand due to onset of winters, will provide opportunity for cost optimization by Discoms and Open Access consumers, resulting in increased volumes on the Exchange.

According to the power demand data published by the National Load Dispatch Center, the energy consumption at 115 BU during October ’22, increased 1% on YoY basis, however it declined 10% on MoM basis.

At around 9:23 AM, Indian Energy Exchange Ltd is currently trading at Rs142 per share down by Rs1.9 or 1.32% from its previous closing of Rs143.90 per share on the BSE.

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