IEX Trade Volume Increases Nearly 21% To 11,370 Million Units In September

Indian Energy Exchange's total trade volume rose 24% year-on-year to 11,370 million units in September this year. The electricity volume increased 21% year-on-year to 10,332 million units in September, an IEX statement said on Monday.

According to the statement, IEX achieved total monthly (trade) volume (including certificates) of 11,370 million units in September 2024, marking a 24% year-over-year increase.

The Renewable Energy Certificates at 1,031 MU, increased 100% year-on-year. At Rs 110 per certificate, the REC market recorded an all-time low price in the trading session held on Sept. 25, 2024.

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.

With a steady monsoon in September, there was a significant rise in hydro and wind power generation, which led to a substantial drop in Day-Ahead Market and Real-Time Market prices, resulting in higher trading volumes during the month, IEX said.

The Market Clearing Price in the Day Ahead Market at Rs 4.18/unit during September 2024, declined 33% year-on-year.

Similarly, the market clearing price in the Real Time Market at Rs 3.98/unit during September 2024, declined 28% year-on-year.

The Day-Ahead Market (DAM) volume increased to 4,610 MU in September 2024, from 3,467 MU in September 2023, registering an increase of 33% YoY.

The Real-Time Electricity Market (RTM) achieved highest ever monthly volume of 3,913 MU in September 2024, from 2,923 MU in September 2023, registering an increase of 34% YoY.

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 723 MU volume during September 2024 as compared to 230 MU in September 2023, registering an increase of 214% YoY.

The Green Day-Ahead Market (G-DAM) achieved 712.5 MU volume during September 2024 with a weighted average price of Rs 4.59 per unit, as compared to 140.2 MU in September 2023, registering an increase of 408% YoY.

The Green Term-Ahead Market (G-TAM) achieved 10.4 MU volume in September 2024 with an average monthly price of Non-Solar- Rs 8.28/unit. The total volume of the segment during the quarter was 49.7 MU.

A total of 10.31 lac RECs (equivalent to 1,031 MU), an increase of 100% YoY, were traded in the trading sessions held on September 11, and 25 at a clearing price of Rs 112/REC and Rs 110/REC respectively.