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					</table><p>The Indian Energy Exchange (<a href="https://www.iexindia.com/" target="_blank" rel="noopener">IEX</a>) traded 341 million units (MU) of renewable energy in February 2023, a 2% decrease month-over-month (MoM) compared to 347 MU <a href="https://mercomindia.com/iex-347-mu-green-energy-january-2023/" target="_blank" rel="noopener">traded</a> in the previous month and a 25% year-over-year (YoY) decrease.</p>
<p>The average daily trading volume on the exchange increased by 5% MoM. However, the overall trading volume decreased by 5% MoM due to fewer trading days in February.</p>
<p>The electricity trading volume was 7,673 MU, which represented a decline of 6% YoY and a 7% MoM. The total trading volume was 8,200 MU, which marked a decline of 7% YoY.</p>
<p>High input costs continued to impact sell-side liquidity in February. However, there was an increase in demand for power due to several parts of the country experiencing unusually warm temperatures and sustained economic activity.</p>
<p>According to data released by the National Load Dispatch Center, the total energy produced in the country during February was 118 BU, representing a 9% YoY increase.</p>
<p>In the coming months, IEX expects that supply constraints will ease due to favorable policy and regulatory initiatives. These initiatives are expected to increase coal and gas-based generation, leading to higher liquidity on the exchange. This increased liquidity will likely provide cost-optimization opportunities for power distribution companies and open access consumers.</p>
<p><strong>Green Market: Day-Ahead </strong><strong>and Term-Ahead</strong></p>
<p>The Green Day-Ahead Market (GDAM) traded 250 MU with a weighted average price of ₹6.57 ($0.080)/ kWh, up 4% MoM. The market saw participation from 203 entities during the month, with the highest number of participants in a single day at 159 on February 22, 2023.</p>
<p>The Green Term-Ahead Market (GTAM) traded 91 MU during the month. The average monthly price for non-solar was ₹8.22 ($0.10)/ kWh ₹10.18 ($0.12)/ kWh for hydropower.</p>
<p><strong>Electricity Market: Day-Ahead, Term-Ahead, and Real-Time Market</strong></p>
<p>In February, the DAM volume decreased by 5% MoM to 4,664 MU. The DAM volume was also down 17% YoY due to high prices caused by a constrained supply, which led to continued high spot e-auction coal prices.</p>
<p>The Real-Time Electricity Market achieved 1,714 MU during the month, registering a 10% YoY growth.  There were 722 participants in this segment.</p>
<p>The consistent growth of the real-time electricity market indicates the growing reliance on distribution utilities and industries to achieve the power demand-supply balancing in real-time most efficiently, IEX said.</p>
<p>The TAM, comprising intra-day, contingency, daily, weekly, and long-duration contracts, traded 954 MU during the month, an increase of 81% YoY and 5% MoM.</p>
<p><strong>Renewable Energy Certificate Market</strong></p>
<p>February saw 374,000 renewable energy certificates (REC)s cleared, registering a decrease of 5% MoM. The trading session <a href="https://mercomindia.com/rec-jumps-clearing-price-%e2%82%b91000-new-regulations/" target="_blank" rel="noopener">witnessed</a> a clearing price of ₹1,000 (~$12.24)/REC. The next REC trading session at the exchange is scheduled for March 29, 2023.</p>
<p><strong>Energy saving certificates</strong></p>
<p>After a hiatus of 14 months, IEX resumed trading energy-saving certificates (ESCerts) on February 14, 2023. During the month, nearly 154,000 ESCerts, equivalent to 154 MU, were traded on IEX, representing a 97% market share.</p>
<p>The exchange <a href="https://mercomindia.com/iex-reports-4-yoy-dip-profit-q3-fy23/" target="_blank" rel="noopener">reported</a> a 4.4% YoY decrease in profit after tax from ₹807 million (~$9.94 million) to ₹772 million (~$9.51 million) in the third quarter of the financial year 2023.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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IEX Traded 341 MU of Green Energy in February 2023, Down 25% YoY

<p>Distribution companies (DISCOMs) owed renewable generators ₹205.17 billion (~$2.68 billion) in overdue payments (excluding disputed amounts) at the end of February 2022, according to the data released by the <a href="https://powermin.gov.in/" target="_blank" rel="noopener">Ministry of Power</a>.</p>
<p>The figure reported for February was 45% higher than ₹141.42 billion (~$1.89 billion) <a href="https://mercomindia.com/discom-dues-renewable-generators-slide-january-2022/" target="_blank" rel="noopener">registered</a> for January 2022.</p>
<p>According to the data released by the Ministry of Power’s payment ratification and analysis portal <a href="https://praapti.in/" target="_blank" rel="noopener">PRAAPTI</a>, the outstanding amount to renewable generators at the end of the month stood at ₹3.92 billion (~$51.21 million). At the end of January, the amount was ₹11.75 billion (~$157.13 million).</p>
<p style="text-align: center;"><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/discom-dues-final.png"><img decoding="async" loading="lazy" class="alignnone wp-image-33394 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/discom-dues-final.png" alt="DISCOM Dues February" width="622" height="260" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/discom-dues-final.png 622w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/discom-dues-final-300x125.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/03/discom-dues-final-600x251.png 600w" sizes="(max-width: 622px) 100vw, 622px" /></a></p>
<p>At the end of the month, DISCOMs owed all power generators an overdue amount equivalent to ₹1.05 trillion (~$13.73 billion), an increase of 3.4% from ₹1.01 trillion (~$13.28 billion) at the end of January 2022.</p>
<p>The outstanding amount at the end of February 2022 stood at ₹165.7 billion (~$2.17 billion), a decrease of 1% from ₹163.32 billion (~$2.14 billion) at the end of January this year.</p>
<p>For February, the DISCOMs released $136.49 billion (~$1.79 billion) against the overdue amount, an increase of 2% compared to $134.2 billion (~$1.76 billion) during the month of January. The DISCOMs released ₹39.5 billion (~$515.98 million) against the outstanding amount, marking a decrease of 1% from ₹39.88 billion (~$520.95 million) in January.</p>
<p>The three renewable generators who owed the most were Adani Green Energy, Hero Future Energies, and Tata Power Company at the end of the month.</p>
<p>Among the states, Tamil Nadu had the highest backlog with an overdue amount of ₹206.6 billion, followed closely by Maharashtra and Rajasthan, with ₹192.85 billion (~$2.52 billion) and ₹108.73 billion (~$1.42 billion), respectively.</p>
<p>In terms of ease of doing business with the DISCOMs, Jammu and Kashmir and Meghalaya were at the lowest rung. Other states that did badly during the month were Tamil Nadu, Telangana, Andhra Pradesh, Maharashtra, Rajasthan, and Jharkhand.</p>
<p>The states that performed well during the month were Himachal Pradesh, Uttarakhand, Assam, Arunachal Pradesh, Nagaland, Chhattisgarh, Odisha, Gujarat, Goa, and Kerala.</p>
<p>Last December, the Ministry of Power <a href="https://mercomindia.com/discoms-submit-draft-proposals/" target="_blank" rel="noopener">said</a> that 39 out of 55 electricity DISCOMs had submitted draft proposals under the ₹3.03 trillion (~$40.82 billion) reforms-based result-linked power distribution program. The Ministry had said that Meghalaya and Assam were the frontrunners in planning operational and financial reforms.</p>
<p>Subscribe to Mercom’s real-time <a href="https://mercomindia.com/product/mercoms-renewable-energy-regulatory-updates/" target="_blank" rel="noopener">Regulatory Updates</a> to ensure you don’t miss any critical updates from the renewable industry.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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DISCOM Dues to Renewable Generators Mount to ₹205.7 Billion at the End of February

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