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New Delhi: Indian Energy Exchange (IEX), the country’s leading electricity trading platform, recorded a total electricity traded volume of 9,642 million units (MU) in October 2024, reflecting a 4% increase year-on-year. Renewable Energy Certificates (RECs) also saw a sharp increase, with 4.44 lakh RECs traded in October, marking a 105% rise from the previous year.
According to government data, India’s energy consumption reached 140.4 billion units (BUs) in October, showing a 1% year-on-year increase. The Market Clearing Price in the Day-Ahead Market fell by 39% to ₹3.92 per unit, while the Real-Time Market price decreased by 38% to ₹3.77 per unit. These lower prices present a cost-effective option for Discoms and Open Access consumers to procure power through exchanges, replacing costlier alternatives.
In the Day-Ahead Market (DAM), IEX recorded a volume of 4,388 MU in October, a 7% decline from 4,742 MU in October 2023. However, the Real-Time Electricity Market (RTM) experienced a significant 30% growth, with volumes reaching 3,123 MU compared to 2,402 MU last year.
The Term-Ahead Market (TAM), covering contracts from contingency to up to three months, recorded a 34% decline, trading 1,260 MU in October as against 1,911 MU in October 2023.
The IEX Green Market, comprising the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market (G-TAM), surged with a total volume of 872 MU in October 2024, reflecting a 364% increase from 188 MU in October 2023. The G-DAM registered 829 MU at a weighted average price of ₹3.60 per unit, up 358% year-on-year. Meanwhile, the G-TAM recorded a 498% increase with 43 MU traded in October, with average prices of ₹3.49 for solar, ₹8.02 for non-solar, and ₹5.03 for hydro.
On the REC Market, 4.44 lakh certificates were traded in two sessions on October 9 and October 30, with clearing prices of ₹110 and ₹120 per REC, respectively. The next REC trading sessions are scheduled for November 13 and November 27.
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