November Power Trading- Electricity Prices Drop17% YoY

Indian Energy Exchange, India’s largest electricity exchange, achieved electricity traded volume of 9,689 MU in November’24, marking a 15.7% year on year increase.  During the month, IEX traded 5.46 lakh renewable energy certificates recording a 27.7% year on year decrease.

According to government data published in November 2024, the country’s energy consumption reached 125 BUs, increase of 5% compared to the previous year. Despite an increase in power demand, the Market Clearing Price in the Day Ahead Market at Rs 3.30/unit during November 2024, declined 17.3% year-on-year. Similarly, the Market clearing price in the Real Time Market at Rs 3.46/unit during November 2024, declined 13.4% year-on-year. Prices were low due to high supply side liquidity. On a monthly basis, these are the lowest prices discovered this fiscal year. These prices present an opportunity for Discoms and Open Access consumers to replace costlier power through purchasing through exchanges.

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

The Day-Ahead Market (DAM) achieved 5,651MU volume in November’24 as compared to 5,144 MU volume in November’23, an increase of 9.8% YoY.

The Real-Time Electricity Market (RTM) achieved monthly volume of 3,019 MU in November‘24, as compared to 2,359 MU in November’23, registering an increase of 28% YoY.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily & weekly and monthly contracts up to 3 months, traded 202 MU during November’24, as compared to 679 MU volume in November’23, a decline of 70.3% YoY. Due to ample availability of sell side liquidity, buyers preferred the DAM and RTM segments this month.

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

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 818 MU volume during November’24 as compared to 189 MU in November’23, registering an increase of 331.8% YoY.

The Green Day-Ahead Market (G-DAM) achieved 793 MU volume during November’24 with a weighted average price of Rs 3.19 per unit, as compared to 182 MU in November’23, registering an increase of 335.2% YoY.

The Green Term-Ahead Market (G-TAM) achieved 25 MU volume during November’24 with a with average monthly price of Solar- Rs 3.50/unit, Non-Solar- Rs 5.42/unit and Hydro – Rs 3.68/unit, as compared to 7 MU in November’23, registering an increase of 244.7% YoY.

RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)

A total of 5.46 lac RECs, were traded in the trading sessions held on 13^th November’24 and 27^th November’24., at a clearing price of Rs. 140/REC and Rs. 190/REC respectively.

The next REC trading sessions at the Exchange are scheduled on 11^th December’24 and 26^th December’24.