IEX Achieves Highest Ever Monthly Traded Volume of 13,250 MU in July 2024
Indian Energy Exchange (IEX) Power Market Update, July 2024 highlights the surges in trade volume in electricity, green market and REC market.
August 07, 2024. By News Bureau
The renewable energy certificates (REC) at 3,150 MU, increased 405 percent YoY. At INR 120 per certificate, the REC market recorded an all-time low price in the trading session held on July 31, 2024. These prices provide an opportunity for 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 four percent increase year-on-year.
As per the data released by IEX, the Day-Ahead Market (DAM) volume increased to 5,056 MU in July 2024, from 3976 MU in July 2023, registering an increase of 27 percent YoY.
Further, the Real-Time Electricity Market (RTM) volume increased to 3,334 MU in July 2024, from 2540 MU in July 2023, registering an increase of 31 percent YoY.
Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily, weekly and monthly contracts up to 3 months, traded 712 MU during July 2024.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 989.6 MU volume during July 2024 as compared to 275.4 MU in July 2023, registering an increase of 259 percent YoY. The weighted average price of the G-DAM market was INR 4.34 per unit. IEX G-DAM cleared volume recorded an all-time high of 50 MU on July 28, 2024.
As per the July market update released by IEX, a total of 31.50 lac RECs (equivalent to 3,150 MU) were traded in the trading sessions held on July 10, 2024 and July 31, 2024, at a clearing price of INR 128/REC and INR 120/REC respectively.
The next REC trading sessions at the Exchange are scheduled for August 14, 2024 and August 28, 2024. During July 2024, 7,000 ESCerts (equivalent to 7 MU) were traded on IEX, at the floor price of INR 2,165 per ESCert.
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