New Delhi: Indian Energy Exchange (IEX) reported a total trading volume of 11,370 million units (MU) in September 2024, reflecting a 24% year-on-year (YoY) growth. The electricity volume, including green electricity, reached 10,332 MU, marking a 21% YoY rise. The Renewable Energy Certificates (REC) volume surged by 100% YoY to 1,031 MU, with prices falling to a record low of ₹110 per certificate in the trading session on September 25, 2024.
According to government data, India’s energy consumption in September stood at 141.3 billion units (BUs), remaining flat compared to the previous year. A steady monsoon boosted hydro and wind power generation, leading to a significant drop in Day-Ahead Market (DAM) and Real-Time Market (RTM) prices. The Market Clearing Price in the DAM dropped 33% YoY to ₹4.18 per unit, while the RTM price fell 28% YoY to ₹3.98 per unit.
The DAM segment registered a volume of 4,610 MU in September, up 33% YoY, while the RTM posted its highest-ever monthly volume at 3,913 MU, increasing 34% YoY. The Term-Ahead Market (TAM) saw a decline, trading 1,086 MU, down 43% YoY.
In the Green Market, IEX reported a 214% YoY growth with 723 MU traded in September. The Green Day-Ahead Market (G-DAM) alone saw a 408% YoY jump, reaching 712.5 MU at an average price of ₹4.59 per unit. The Green Term-Ahead Market (G-TAM) traded 10.4 MU, with the non-solar segment averaging ₹8.28 per unit.
IEX also recorded significant activity in the REC market, with 10.31 lakh RECs traded, equivalent to 1,031 MU, at a price of ₹110 per certificate, the lowest since inception. The next REC trading sessions are scheduled for October 9 and October 30, 2024.
