Hindustan Power Exchange trade crosses 2.5 bn unit mark in 8 months

Hindustan Power Exchange (HPX) on Monday said that it has crossed the trade milestone of 2.5 billion units within eight months of its launch.

"HPX, promoted by PTC India, BSE and ICICI Bank, has successfully crossed the milestone of 2.5 Billion Units of power traded within 8 months of its launch," an HPX statement said.

HPX was able to cross this landmark with a rapid increase in trade volume across contingency, weekly, monthly, and Long Duration Contracts (LDC) segments, it explained.

The exchange recently concluded monthly long-duration contracts of 453.7 MU (million units) which will be delivered in the months of March and April 2023 and is a part of the above volume.

HPX raced to 2.5 BU within a short span of 67 days with a daily average volume of 18 MU, post crossing the historic landmark of 1 BU, which happened within six months of its launch, it stated.

This is the fastest increase in volume for the initial few months of the existence of any of the power exchanges operating