IEX Energy Exchange July Update- Traded Volumes Up 56% YoY

Indian Energy Exchange (IEX) achieved the highest ever total volume (including certificates) of 13,250 MU in July 2024, marking a ~56% year-over-year increase. The electricity volume at 10,093 MU, increased 29% YoY for IEX in July. Green electricity volume during the month at 1 BU, grew 259% YoY.

The renewable energy certificates (REC) at 3,150 MU, increased 405% YoY. At Rs. 120 per certificate, the REC market recorded an all-time low price in the trading session held on 31^st July 2024. The exchange claims  these prices provide an opportunity to obligated entities (DISCOMS and Captive Power Producers) to meet their Renewable Purchase Obligations, and voluntary customers to meet their sustainability aspirations.

According to government data published in July 2024, the country’s energy consumption reached 145.4 BUs, representing ~4% increase year-on-year.

ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET

The Day-Ahead Market (DAM) volume increased to 5,056 MU in July’24, from 3976 MU in July’23, registering an increase of 27% YoY.

The Real-Time Electricity Market (RTM) volume increased to 3,334 MU in July ‘24, from 2540 MU in July’23, registering an increase of 31% YoY.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 712 MU during July’24.

GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET

IEX Green Market in July, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 989.6 MU volume during July’24 as compared to 275.4 MU in July’23, registering an increase of 259% YoY. Weighted average price of G-DAM market was Rs 4.34 per unit.

IEX G-DAM cleared volume recorded an all-time high of 50 MU on July 28th.

RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)

A total of 31.50 lac RECs (equivalent to 3,150 MU) were traded in the trading sessions held on 10^th July’24 and 31^st July’24, at a clearing price of Rs. 128/REC and Rs. 120/REC respectively.

The next REC trading sessions at the Exchange are scheduled on 14^th August’24 and 28^th August’24.

ENERGY SAVING CERTIFICATES (ESCERTS)

During July’24, 7,000 ESCerts (equivalent to 7 MU) were traded on IEX, at the floor price of Rs. 2,165 per ESCert.