Green term-ahead trading records 151% growth

The Green (Renewable Energy) Term-Ahead Market traded 208 million units (MU) during October, representing a 151% growth month-on-month. Solar energy, at 173 MU, dominated the non-solar trade.

November 4, 2020 Uma Gupta

With GTAM, RE generators are able to sell excess power in the open market.

Image: Kenueone/Pixabay

The Indian Energy Exchange has announced that the recently launched Green (Renewable Energy) Term-Ahead Market (GTAM) continues to see increased participation from utilities, consumers, and renewable generators.

The GTAM mechanism allows resource-rich and resource-deficit States to trade renewable energy in the open market and balance their renewable purchase obligation (RPO) targets.

During October, the market recorded a trading volume of 208 million units (MU), representing a significant 151% growth on a month-on-month basis. The trading in solar energy at 173 MU dominated the non-solar trade.

The market saw 25 participants during the month with key participants including utilities from West Bengal, Haryana, Dadar & Nagar Haveli, Daman & Diu and Delhi. The highest single-day participation of 18 was recorded on October 16 and 28.

IEX commenced trading in the green contracts on August 21 this year and has accomplished a cumulative trade of 300+ MU. Presently, the market offers to trade in intraday and day-ahead contingency contracts in both solar and non-solar segments.

Overall, the IEX traded electricity volume of 6743 MU in October, a significant 76% year-on-year increase. The national peak demand in the same period was up 6% YoY increase. The energy consumption recorded a 9% YoY growth, according to the data published by the POSOCO.

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