The volume of electricity traded in the day-ahead market contract rose by 39.82% on Tuesday on India Energy Exchange, the country?s first power exchange promoted by Financial Technologies Ltd. Total 21,105 megawatt hours (mwh) were traded against 15,094 mwh on November 17, India Energy Exchange (IEX) said.
Between 1000 hrs and 1200 hrs, buyers offered bids for 36,640 mwh, while sellers for 30,445 mwh. However, the total volume traded on agreed price was about 21,105 mwh, it said. The minimum price that was quoted by the traders was Rs 4.91 kilowatt hour (kwh), while the maximum rate was Rs 9.50 kwh. The current installed capacity of power in the country from all sources is about 1.45 lakh mw. While on IEX, only 0.5% of the total power produced in the country is traded now.
IEX, which is currently involved in day ahead power trading, has commenced trading in 1 mw contract from October 27. With this new contract introduction, volumes of 1000 kw can be traded for as low as 1 hour, costing few thousands of rupees. This step will enable small captive and cogeneration plants located nationwide to sell their surplus power on exchange. All consumers with load of more than 1 mw can now buy power from the exchange.
IEX initially started with 10 mw contracts, which the Exchange has successfully undertaken for the last four months. In view of the same, Hon?ble CERC has now permitted the quantum of 1 mw.