Hindustan Power Exchange Limited (HPX) has crossed the milestone of 5 billion units (BUs) of power traded within 11 months of its launch.
HPX was able to cross this landmark with a rapid increase in trade volume across contingency and long duration contract (LDC) segments. HPX crossed 5 BUs with a daily average volume of around 18 MU. A large part of this volume is attributed to the LDCs which were introduced on the HPX platform in the month of February 2023. Notably, HPX successfully executed the very first electronic reverse auction (e-RA) contract for the Indian Railways that witnessed encouraging participation from generators. Since then 75 e-RA tenders have been floated on HPX with a successful contract award in 16 such contracts, indicating a success ratio of about 21.3 per cent as against an industry average of around 10 per cent.