· Term Ahead Market trading saw 82% market share with 472 MU transacted in September
New Delhi, 22nd October 2020:
Power Exchange India Ltd (PXIL) has notched up significant market share in electricity trading during the last few months. Ever since the jump-start of Day Ahead Spot (DAS) from August 25, 2020, there has been consistent participation from the most active participants in the market. The price formation has demonstrated convergence, even with small volumes and despite the prices remaining volatile due to weather and other socio-economic factors.
In the Term Ahead Market (TAM) segment, the cumulative volumes transacted in September 2020 stood at 472 MU resulting in market share of 82%. The trend has continued in October as well.
PXIL Day Ahead Spot (DAS) contract is reflecting a renewed interest of market participants for competing yet converging prices in the segment. It is also a manifestation of the maturity of the market participants, who view competition as a pre-condition for deepening power markets. As the markets grow further, this need to avoid a monopoly and have competition in each and every segment of the market will accentuate further. The Hon’ble CERC, in this foresight, has introduced the concept of Market Coupling, which essentially will lead to complete convergence in prices in Day Ahead Market.
Similarly during the month, till 18th October 2020, the volume traded in TAM was 440 MU and 29 MU in DAM.
The coming months are poised to see resumption of trade in REC segment (trading was suspended owing to the order from Hon’ble APTEL in August), introduction of Green TAM and forward contracts. PXIL’s new trading platform PRATYAY has been very well accepted by Members and has been able to integrate and offer services such as, API integration, online KYC, GST invoicing module, dynamic contracts, etc. A host of other features such as continuous trading in intra-day segment are in the pipeline and will be offered to members on an on-going basis.
Today, October 22, 2020 PXIL completed its 12th year anniversary and all its stakeholders including key trading members, utilities and Independent power generators have reposed its trust on the new ‘avatar’ in PXIL’s trading platform.
Mr. Prabhajit Kumar Sarkar, MD & CEO, PXIL said “PXIL’s market leadership in the Term Ahead Market and its growing presence in the Day Ahead Spot segment demonstrate the value of competitive efficiency and choice in the power markets. We would continue to strive to be the first choice of our members and clients for transactions in the power market.
We are confident that structural reforms for power exchanges are on the anvil, which would usher in enabling market structure like market coupling, fair rules that allow competition to thrive and ensuring ease of participation on various marketplaces.
We are thankful to our promoters NSE and NCDEX and our shareholders, each of whom are stalwarts in the sector, for guiding and supporting PXIL through this journey. We are especially grateful to our members and clients for reposing their trust and confidence in us.
PXIL will continue to bring in new products and services to help transform the electricity market and make India future ready. We are determined to play a critical role in providing competitive efficiency through innovation, services, cost-efficiency and all such parameters that can enable the creation of a thriving power market.”
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