hi INDiA
South Asian Views On Global News - Update 24X7

IEX clocks highest trade volume of 22.42 BU in March quarter

BUY-SELL | HELP WANTED | MATRIMONIAL

New Delhi, May 14: The Indian Energy Exchange (IEX) recorded the highest power trade volume or sales of 22.42 billion units (BU) in the March quarter with year-on-year growth of 62.1 per cent.
The power trade volume was 13.83 BU in the January-March quarter last year, IEX said in a statement.
According to the statement, the Q4FY’21 ended on March 31, 2021, saw the highest-ever quarterly electricity volume at 22.4 BU and also highest-ever year-on-year (YoY) growth of 62.1 per cent.
Fiscal 2021, saw the highest-ever yearly volume of 73.9 BU traded at the IEX since 2008, resulting in 37.3 per cent YoY growth. The power trade volume was 53.86 BU in 2019-20.
The growth was driven by the competitive power prices, growing consumption of electricity, availability of adequate domestic coal, besides commencement of the new and much awaited market segments such as the real-time market and the green market, it said.
The day-ahead market saw an average market clearing price of Rs 2.82 per unit in the fiscal year 2021, about 6 per cent lower than the previous year price, it stated.
Low power prices, and ample sell-side liquidity through the year helped the distribution utilities and industrial consumers to optimize their power procurement and maintain good financial liquidity amidst the COVID crisis, it added.
The real-time electricity market which commenced trading on June 1, 2020 has received an incredible response from the market participants. The market crossed the 1-BU benchmark for four consecutive months — from December 2020 to March 2021.
On a cumulative basis in Q4 FY’21, the market traded 3,766 MU. Since its commencement, the market traded 9,468 MU till March 31, 2021.
Another key market segment – the green term ahead market, which commenced trading on August 21, 2020 has cumulatively traded 785 MU since commencement.
The IEX on Thursday posted over 33 per cent rise in its consolidated net profit at Rs 60.85 crore in the March 2021 quarter, mainly on the back of higher revenues.
The company’s consolidated net profit stood at Rs 45.61 crore in the quarter ended on March 31, 2020.
Its total income rose to Rs 100.33 crore in the quarter, from Rs 79.59 crore a year ago.
In the full fiscal 2020-21, the firm’s consolidated net profit rose to Rs 205.43 crore, as compared to Rs 175.71 crore in the 2019-20.
Total income in 2020-21 rose to Rs 356.23 crore, from Rs 297.40 crore in 2019-20. (PTI)

The post IEX clocks highest trade volume of 22.42 BU in March quarter appeared first on Jammu Kashmir Latest News | Tourism | Breaking News J&K.

gtag('set', {'user_id': 'USER_ID'}); // Set the user ID using signed-in user_id.