IEX stock: Indian Energy Exchange shares February update, says this

Shares of Indian Energy Exchange Ltd (IEX) are in focus on Tuesday, as the electricity exchange in a filing to stock exchanges earlier today said it achieved 9,462 MU overall volume, in February, up 15.4 per cent on year-over-year (YoY) basis.

IEX said the market clearing price in Day Ahead Market in February was Rs 4.93 per unit, down 26 per cent YoY, due to increased sell liquidity. The sell bids on the exchange (Day Ahead Market plus Real Time Market) during the month rose 47 per cent on YoY basis, IEX said.

According to government data published in February, the country's energy consumption reached 127.8BUs, up 8.5 per cent YoY. The Ministry of Power issued amendments in the electricity late payment surcharge rules, 2024, requiring sale of URS power on exchanges.

"These rules also provide for penalty in terms of reduced fixed charges to GENCOS if they fail to offer URS power in the market. This will improve sell side liquidity on exchange platform and lead to competitive price discovery," IEX noted.

The electricity exchange said the Day-Ahead Market (DAM) volume stood at 4,722 MU in February against 4,664 MU YoY. The Real-Time Electricity Market (RTM) volume jumped to 2,340 MU in February from 1,714 MU YoY, up 36.5 per cent YoY.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 1,487 MU in the month gone by, up 55.9 per cent YoY.

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 298 MU volume in February. The Green Day-Ahead Market (G-DAM) achieved 266 MU volume during the month, with a weighted average price of Rs 5.5 per unit.

"The segment saw participation from 214 market participants during the month. The Green Term-Ahead Market (G-TAM) achieved 32 MU volume in February ’24," IEX said.