The market demonstrated a significant uptick mainly owing to the increase in demand and consumption in the month driven by seasonality factor - peaking summers leading to increased consumption across essential services, especially healthcare institutions, and households due to increase in work from home for corporate employees. Moreover, the steady lifting of the COVID-19 preventive lockdown enabled industries and commerce to get back to business, and thus consumption from C&I customers through open access also witnessed a rise.

The Day-Ahead Market (DAM) traded 5574 MU recording a significant 48% YoY increase. The total monthly sell bids at 10580MU and buy bids were at 6137MU. The buy-sell dynamics indicate ample power availability in the market - 1.7 times more sell than buy. The consequent lower prices provided a compelling proposition for the industries as well as the distribution utilities to meet their short-term demand as well as replace costlier generation with attractively priced power procured through the exchange.

The average market clearing price during the month was at Rs. 2.57 per unit registered a 23% decline YoY over price of Rs. 3.34 in May'19. IEX has rendered significant support in improving their financial liquidity during the crisis through greater savings which is very critical during this time as the sector looks for revival.

The low prices have prompted utilities fromSouthern,Western and Northern states such as Andhra Pradesh, Telangana, Tamil Nadu, Maharashtra, Gujarat, Uttar Pradesh, Bihar and Punjab amongst others to continue procuring power through Exchange. This has enabled them to save significantly while procuring uninterrupted 24*7 power for all the critical sectors.

The Term Ahead Market (TAM) witnessed an increase of 36% YoY trading 431 MU volume. The distribution utilities showcased increased preference of TAM contracts.

One Nation One Price prevailed for all 31 days during the month.