Indian Energy Exchange recorded a 17.5 per cent year-on-year (YoY) increase in growth, attaining a total volume of 9,136 million units (MUs). This also includes 755,000 renewable energy certificates (RECs) equivalent to 755 MU, at a clearing price of Rs 375 per REC for the sessions held on November 8 and November 29 in 2023. In November 2023, the IEX recorded a total electricity volume of 8,371 MU, reflecting a 13 per cent YOY growth.
In November 2023, government data disclosed that the power consumption of the country reached 120 billion units, indicating an 8.5 per cent growth compared to the previous year. Furthermore, in November 2023, the Day Ahead Market witnessed a market clearing price of Rs 3.98 per unit, reflecting a 13 per cent decline compared to the previous year. This was caused by a number of variables, including a reduction in temperature, decreased demand due to festive season, and significantly better liquidity on the Exchange platform from the sell side. In November 2023, the Day-Ahead Market recorded a volume of 5,144 MU, in contrast to 5,087 MU in November 2022. The Real-Time Market attained a 68 per cent YoY growth, rising from 1,407 MU in November 22 to 2,359 MU in November 23.
In November 2023, the Day-Ahead Contingency and Term-Ahead Market, which includes contingency, daily, weekly, and monthly contracts up to 3 months, saw a trading volume of 679 MU, reflecting a 24 per cent increase compared to the previous year.
With a weighted average price of Rs 5.05 per unit, the Green Day-Ahead Market saw 182 MU volume during the month. While, with an average monthly price of Rs 6.22 per unit for non-solar, the Green Term-Ahead Market reached 7 MU volume in November 2023.
On October 30, 2023, the PAT Cycle-ll (in which 1,320,000 ESCerts were traded on IEX), ESCert trade officially finished covering a total of 544 DCs and 40 trading sessions.
