Indian Energy Exchange achieves 7,596 MU volume in May 22; stock climbs ~1%

7 Jun 2022 , 03:23 PM

Indian Energy Exchange Limited’s counter jumped nearly 2% in today’s trade as the company informed investors of the achievement of substantial volume growth across all segments.

The company informed that it has achieved 7,596 MU of electricity volume in May 22 comprising 6,680 MU in the conventional power market, 642 MU in the green power market, and 275 MU (2.75 lakh certificates) in the REC Market, registering 16% yoy growth across all the market segments.

As per the power demand data published by the National Load Dispatch Center, total energy consumption during May 22 stood at 136 BU, registering 23% yoy growth while the national peak demand at 204.45 GW saw 21% yoy growth.

On the back of various timely measures undertaken by the Government to address the supply-side constraints, and elevated renewable (44% yoy increase) and hydropower generation (8% yoy increase), the day-ahead power market at IEX saw a significant correction in the prices which reduced from Rs10.06 per unit in April 22 to Rs6.76 per unit in May 22.

The Day-Ahead Market volume at 3,173 MU saw a decline of 27% yoy during the month with the average monthly price at Rs6.76 per unit.
The Real-Time Market volume stood at 2,319 MU, up 61% from 1,704 MU in April 22.

The highest single-day volume of 104.39 MU was achieved on May 19, 2022. The average monthly market-clearing price at Rs5.88 per unit witnessed a decline of 38% on a MoM basis.

The Term-Ahead Market comprising intra-day, contingency, daily & weekly contracts traded 1,189 MU registering a growth of 211% yoy, stated the company in its filing.

Indian Energy Exchange Ltd is currently trading at Rs177 up by Rs1.7 or 0.97% from its previous closing of Rs175.30 on the BSE. The scrip touched intraday high and low of Rs181 and Rs175.05 respectively.