December 2024: DAM Prices Dip 14% YoY, Avg RE Prices At Rs 3.92/unit

Indian Energy Exchange (IEX), achieved its highest-ever monthly electricity traded volume of 11,132 MU in December’24, marking a 29% increase on a year-on-year (YoY) basis. During the month, IEX traded 16.62 lakh renewable energy certificates recording a 58% year-on-year increase.

For December 2024, the Market Clearing Price in the Day Ahead Market was Rs. 3.89/unit, marking a 14% YoY decrease. For Q3FY’25, the prices in the Day-Ahead market averaged Rs 3.71/unit, a decline of ~26% YoY, due to the availability of ample supply liquidity.

Compared to last month in in November’24, the Day-Ahead Market (DAM) achieved 5,651 MU volume as compared to 5,144 MU volume in November’23, an increase of 9.8% YoY.  Day Ahead Market at Rs 3.30/unit during November 2024, declined 17.3% year-on-year.

For the nine months of the fiscal year 2025, IEX achieved an electricity traded volume of 88,981 MU, marking a 19% YoY increase. For the third quarter of the fiscal year 2025, IEX achieved an electricity traded volume of 30,464 MU, marking a 16% YoY increase. During the quarter, IEX traded 26.52 lakh renewable energy certificates recording a 31% year-on-year increase.

According to government data published in December ’24, the country’s energy consumption reached 130.40 BUs, an increase of nearly 6% compared to the previous year. During the month, the Day Ahead Market segment at IEX recorded a robust ~57% YoY increase in supply-side volumes. This rise in supply helped moderate prices.

Electricity Market: Day-Ahead, Term- Ahead & Real-Time Market 

The Day-Ahead Market (DAM) achieved 6,674 MU volume on December 24 as compared to 4,798 MU volume on December 23, a 39% YoY increase. The DAM segment registered a total volume of 16,712 MU during Q3 FY ’25, an increase of 14% over Q3 FY ’24. The Real-TimeElectricityMarket (RTM) volume increased to 3,180 MU on December 24, from 2,405 MU in December’23, registering an increase of 32% YoY.

The RTM segment registered volume of 9,322 MU during Q3 FY ’25, increasing 30% over Q3 FY ’24. Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly, and monthly contracts up to 3 months, traded 498 MU during December ’24, lower by 59% on a YoY basis. The total volume in the segment during the quarter was 1,960 MU, a decline of 49% over Q3 FY’24.

Green Market: Greenday-Ahead & Green Term-Ahead Market 

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 781 MU volume during December’24 as compared to 232 MU in December’23, registering an increase of 236% YoY. During Q3FY25, the segment achieved a volume of 2,470 MU, an increase of 305% over Q3FY’24.

The Green Day-Ahead Market (G-DAM) achieved 763 MU volume during December’24 with a weighted average price of Rs 3.92 per unit, as compared to 217 MU in December’23, registering an increase of 252% YoY. During Q3 FY’25, the segment achieved a volume of 2,385 MU, an increase of 311% over Q3FY’24.

The Green Term-Ahead Market (G-TAM) achieved 18 MU volume during December’24 with an average monthly price of Non-Solar- Rs 5.88/unit, as compared to 15.4 MU in December’23, registering an increase of 15% YoY. During Q3FY25, the segment achieved a volume of 86 MU, an increase of 187% over Q3FY’24

Renewable Energy Certificates (REC)

A total of 16.62 lakh RECs were traded in the trading sessions held on 11th December ’24 and 26th December ’24, at a clearing price of Rs.260/REC and Rs.316/REC respectively. REC traded volume in December’24 increased by 58% on a YoY basis. A total of 26.52 lakh RECs were traded during Q3 FY’25, an increase of 31% YoY. The next REC trading sessions at the Exchange are scheduled on 8th January ’25 and 29th January ’25