IEX power market achieves 90 per cent YoY growth in April 2021 at 7,707 million units

The Indian Energy Exchange (IEX) has traded in 7,707 million units as of April 2021, achieving 90.2 per cent year-on-year (Y-o-Y) growth from the last year on the platform.

The day ahead market (DAM) traded 5,699 MU volume, realizing 54 per cent growth. The average monthly price increased by 53 per cent to Rs 3.70 per unit from Rs 2.42 in the corresponding period in 2020. The increase in price can be attributed to increase in demand and a sharp slump in electricity prices in April 2020 due to the stringent nationwide lockdown. Notably, during April 2021, IEX commenced the Cross Border Electricity Trade on its platform marking in order to build an integrated South Asian regional power market. Nepal was the first country to trade in the day-ahead market on the Exchange on April 17, 2021. The other South Asian countries like Bhutan and Bangladesh are expected to join the platform soon, and the market is likely to grow at a fast pace in the coming months.