IEX records 4% increase in traded electricity volume in October 2024

The Indian Energy Exchange (IEX) reported a traded electricity volume of 9,642 million units (MU) in October 2024, marking a 4% year-on-year growth. IEX also traded 4.44 lakh renewable energy certificates (RECs) in October, a notable 105% increase from the previous year.

India’s energy consumption for October reached 140.4 billion units (BUs), a 1% increase from the previous year, according to government data. The Market Clearing Price in the Day-Ahead Market (DAM) fell 39% year-on-year to Rs 3.92 per unit, while the Real-Time Market (RTM) price declined 38% to Rs 3.77 per unit. These lower prices offer Discoms and Open Access consumers a cost-effective alternative for power procurement.

The DAM saw a traded volume of 4,388 MU in October, a 7% decline from October 2023. Conversely, the RTM achieved a 30% growth, reaching 3,123 MU, up from 2,402 MU in October 2023. The Day-Ahead Contingency and Term-Ahead Market (TAM) registered a volume of 1,260 MU, a 34% year-on-year decrease.

Green Market Highlights The IEX Green Market, which includes the Green Day-Ahead and Green Term-Ahead segments, recorded a volume of 872 MU in October 2024, a substantial 364% increase from 188 MU in October 2023.

REC Market A total of 4.44 lakh RECs were traded in sessions on October 9 and October 30, at clearing prices of Rs 110 and Rs 120 per REC, respectively. Upcoming REC trading sessions are scheduled for November 13 and November 27, 2024.