Indian Energy Exchange (IEX) recorded a 56 per cent year-on-year (YoY) increase in growth, attaining a monthly total volume of 13,250 million units (MUs) in July 2024. The IEX recorded a total electricity volume of 10,093 MU, reflecting a 29 per cent YOY growth. A total of 1.055 million renewable energy certificates (RECs) equivalent to 3,150 MU, were traded at a clearing price of Rs 120 per REC for the session held on July 31, 2024. Green electricity volume grew 259 per cent YoY during the month to reach 1 BU.
In July 2024, government data disclosed that the power consumption of the country reached 145.4 billion units, indicating a 4 per cent growth compared to the previous year. Further, in July 2024, the Day-Ahead Market recorded a volume of 5,056 MU, in contrast to 3,976 MU in July 2023. The Real-Time Market attained a 31 per cent YoY growth, rising from 2,540 MU in July 2023 to 3,334 MU in July 2024. In July 2024, 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 712 MU. The Green Day-Ahead Market had a weighted average price of Rs 4.34 per unit. The IEX Green Market which includes the Green Day-Ahead Market and Green Term-Ahead Market segments saw 989.6 MU volume during the month. IEX G-DAM cleared volume recorded an all-time high of 50 MU on July 28, 2024.
In the renewable energy certificate market, 3.15 million 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 Rs 128/REC and Rs 120/REC, respectively.
