The Indian Energy Exchange (IEX) achieved its highest-ever total trade volume of 13,250 million units (MU) in July 2024, marking a 56% increase year-over-year. This total includes renewable energy certificates (RECs) and energy-saving certificates, according to an IEX statement.
Electricity volumes reached 10,093 MU, a 29% increase year-over-year. RECs experienced a significant surge, with volumes hitting 3,150 MU, up by 405% compared to the previous year. Additionally, green electricity volume grew by 259%, reaching 1 billion units (BU) during the month.
In the trading session on 31 July 2024, REC prices hit an all-time low at Rs 120 per certificate. These prices present an opportunity for entities such as DISCOMS and Captive Power Producers to fulfil their renewable purchase obligations and for voluntary customers to achieve their sustainability goals.