Indian Energy Exchange (IEX) on Thursday said its total trade volume increased by 6 per cent on a yearly basis to 7,928 million units (MU) in April.

In a statement, the power trading exchange said “it achieved 7,928 MU overall volume in April 2023, including green market trade of 280 MU, 1.99 lac RECs (equivalent to 199 MU) and 1.23 lac ESCerts (equivalent to 123 MU).”

The overall volume during the month was higher 6 per cent on a year-o-year (y-o-y) basis. The price during April 2023 was Rs 5.41 per unit unit, a fall of 46 per cent y-o-y from Rs 10 a unit in April 2022, due to improving supply-side scenario leading to increased liquidity, as well as cooler weather conditions.

Trade commenced at the High Price DAM (HAM) segment, with 193 MWh (megawatt hour) volume during the month.

This segment allows high-cost generators, such as -- gas-based power generators, imported coal-based plants and battery-energy storage systems — to sell electricity on the market.

While an increase in power demand is expected in the coming months, the supply-side liquidity is likely to be maintained due to improved coal supply, the exchange said, adding this will lead to competitive prices and higher clearance for discoms and open access consumers.

As per data published by GRID-INDIA, energy met in the country during April 2023 stood at 130.57 BU, declining 1.1 per cent on a y-o-y basis, due to widespread rains.

The Day-Ahead Market (DAM) volume increased to 4,332 MU in April, from 3,993 MU in April last year registering a growth of 8.5 per cent.