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Home News Power Sector News Indian Energy Exchange reduces electricity trading limit to 1 MW

Indian Energy Exchange reduces electricity trading limit to 1 MW

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Energy TradingTo bring small players on power trading platform, India Energy Exchange, has reduced the trading limit of electricity to one megawatt (MW) from earlier 10 MW in day-ahead market contract, the exchange said today. "This step will enable small captive and co-generation plants located nation-wide to sell their surplus power on exchange," IEX said in a press report. 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.

After the success of the trading of 10-MW contracts, the Central Electricity Regulatory Commission permitted the quantum of one MW, IEX reports. IEX initially started with 10 MW, and with the reduction of trading limit, volume of 1,000 kilowatt could be traded for as low as one hour, Deo said.

The current installed capacity of power in the country from all sources is about 1.45 lakh MW. On IEX, only 0.5 per cent of the total power produced in the country is traded now.

In the day-ahead market, price is determined by matching offers from generators to bids from consumers at each node to develop a classic supply-and-demand equilibrium price, usually on an hourly interval.

IEX started trading in electricity on August 31 and has since then clocked the highest daily trade volume of 21 million units valued at over Rs 14 crore on November 1.The current installed capacity of power in the country from all sources is about 1.45 lakh MW. While on IEX, only 0.5 per cent of the total power produced in the country is traded now.Currently the power is traded between Rs.8.20/- and Rs.10.00/- per KWH.

Indian Energy Exchange (IEX), went live on 27th June 2008, is India’s first-ever, nationwide, automated, and online electricity trading platform. IEX has been promoted by Financial Technologies (India) Ltd. and PTC India Ltd., and its key stakeholders include Adani Enterprises, Infrastructure Development Finance Company (IDFC), Lanco Infratech, Reliance Energy, Rural Electrification Corporation (REC), and Tata Power Company.

 

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