IEX Q3 Results updates, Indian Energy Exchange is india’s biggest electricity trading company with 95% market share. Company provide fastest online based platform for clients and regulated by CERC.
Indian Energy Exchange was incorporated in 2008 at the time of lehman brother crash. Company’s operation was in Day Ahead Market, Term Ahead Market, etc. IEX provide details about results to exchanges.
we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, January 20, 2023, inter-alia to consider and approve the Unaudited Financial Results (Standalone & Consolidated) of the Company along with Limited Review report thereon for the quarter ended December 31, 2022.
S.N. Goel, chairman and managing director, Indian Energy Exchange Limited (IEX), spoke to Power Line about the current state of power trading and the power exchanges in the country, as well as the outlook for the power trading market in the near to medium term. He also discussed the key highlights for the IEX in the past one year or so, and the company’s future plans and priorities.
The massive transformation in the global and Indian energy sector has created several opportunities for IEX, which it is well positioned to leverage. IEX will continue to pursue opportunities in the power markets and evaluate a foray into adjacencies.
We will continue to fortify our position in current products such as GDAM and GTAM, increase volumes in existing products, and launch new products such as an ancillary market and capacity markets.
IEX Q3 Results will Outperformed Peers ?
India’s energy exchange, achieved 8452 MU total volume in December 2022, including Green Power trade of 377 MU, and 4.87 lac RECs (equivalent to 487 MU)
The total electricity volume on the Exchange in December ’22 was 7964 MU, an increase of 8% on MoM and 4% on YoY basis. The overall volume on the Exchange in December’22 increased by 9% on MoM basis. However, it declined by 7% on YoY basis due to high REC traded volumes of 13.85 lacs in the previous year.
For the third quarter of the fiscal year 2023, IEX has recorded 24.2 BU volume and achieved 5% QoQ growth across all its market segments.
Continuing high spot e-auction coal prices and supply side constraints led to the average clearing price in the Day-ahead market rising to Rs. 5.23 in December, which was 14% higher on MoM basis and 48% higher on YoY.
Improving coal inventory at power plants is expected to result in lower clearing price on the Exchange and is expected to provide further cost optimisation opportunities to Discoms and Open Access consumers, resulting in higher volumes on the Exchange.