Indian Energy Exchange Sees 56% YoY Rise In Traded Volume

Indian Energy Exchange has recorded the highest-ever total volume (including certificates) of 13,250 MU in July 2024, marking a 56 per cent year-over-year (YoY) increase. The electricity volume at 10,093 MU, increased 29 per cent YoY. Green electricity volume during the month at 1 BU, grew 259 per cent YoY. 

The renewable energy certificates (REC) at 3,150 MU, increased 405 per cent YoY. At Rs 120 per certificate, the REC market recorded an all-time low price in the trading session held on 31 July 2024. These prices provide an opportunity to obligated entities (DISCOMS and Captive Power Producers) to meet their Renewable Purchase Obligations, and voluntary customers to meet their sustainability aspirations.

According to government data published in July 2024, the country's energy consumption reached 145.4 BUs, representing a 4 per cent increase year-on-year. The Day-Ahead Market (DAM) volume increased to 5,056 MU on 24 July, from 3976 MU on 23 July, registering an increase of 27 per cent YoY.

The Real-Time Electricity Market (RTM) volume increased to 3,334 MU on 24 July, from 2540 MU on 23 July, registering an increase of 31 per cent YoY.  A day-ahead contingency and term-ahead market (TAM), comprising of contingency, daily & weekly and monthly contracts up to three months, traded 712 MU on 24 July.

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 989.6 MU volume on 24 July as compared to 275.4 MU in 23 July, registering an increase of 259 per cent YoY. The weighted average price of the G-DAM market was Rs 4.34 per unit. IEX G-DAM cleared volume recorded an all-time high of 50 MU on 28 July.