Hindustan Power Exchange crosses 5 bn units trade in 11 months of launch

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Hindustan Power Exchange (HPX) on Thursday announced that it has passed the energy milestone of five billion units (BU) of energy in circulation within 11 months of its launch.

HPX was able to cross this milestone amid a rapid increase in trading volume across the contingent and long-term contract (LDC) segments, according to an HPX statement.

She explained that the strong growth in the member/customer base and trading volumes demonstrate the confidence and support that the platform was able to gain from participants in the energy sector.

HPX is a young energy exchange promoted by PTC India, BSE and ICICI Bank with a diversified shareholder base represented by government power utilities, central generators, independent power producers, market makers in trade and energy sector advisors.

HPX raced to five BUs within 173 days with an average daily volume of about 18 MU, after crossing the historic milestone of 1 BU, which occurred in a time frame of 171 days.

Much of this volume was attributed to LDCs which were introduced on the HPX platform in February.

HPX successfully executed the first Electronic Reverse Auction (e-RA) Contract for Indian Railways which saw encouraging participation from generators.

Since then, 75 e-RA tenders have been placed on HPX with successful contract awards in 16 such contracts, indicating a success rate of 21.3 percent, against an industry average of 10 percent.

With over 550 market participants now on board, HPX now has almost all the major players across the country on its platform and is poised for a growing market presence in the coming months.

Backed by state of the art technology and a series of innovative features, India’s fastest exchange promises to deliver speed, transparency and better price discovery in executing deals.

HPX accounted for 35 percent market share in April, in the forward market (TAM) segment.

The exchange currently offers trading operations in all segments of collective and continuous transactions including but not limited to contingency contracts, green contingency contracts, daily, weekly, monthly and any day futures market (TAM) contracts along with e TRA based long term contracts. for up to 90 days.

The exchange offers trading in contracts for Renewable Energy Certificates (REC) and ESCerts (Energy Saving Certificates).

Day-Ahead Market (DAM), Green Day-Ahead Market (G-DAM) and Real Time Market (RTM) are also available in HPX.

(Only the title and image for this report may have been reworked by the Business Standard staff; the rest of the content is generated automatically from a shared feed.)