The Indian Energy Exchange (IEX) noted a remarkable hike in electricity trade volumes in November 2024.
As per a regulatory filing, IEX attained a trading volume of 9,689 million units (MU) during November 2024, labelling an increase of 15.7 percent year-on-year (YoY).
The renewable energy certificate (REC) faced a decline in spite of the hike in electricity volumes. In November 2024, IEX traded 5.46 lakh RECs, a 27.7% YoY decline. On November 13 and November 27, trading sessions were held at clearing rates of Rs 140 and Rs 190 per REC, respectively.
As per the government data, India’s energy consumption hiked by 5% YoY to 125 billion units (BUs) in November 2024.
Moreover, The Day-Ahead Market’s (DAM) Market Clearing Price declined 17.3% year over year to Rs 3.30 per unit, while the Real-Time Market’s (RTM) price dropped 13.4% year over year to Rs 3.46 per unit. High supply-side liquidity was hold accountable for the decreased prices, which are the lowest levels visible in this fiscal year.
When compared to 5,144 MU in November 2023, the DAM attained 5,651 MU volume in November 2024, highlighting an increase of 9.8 percent YoY.
Meanwhile, The Real Time Electricity Market (RTM) attained monthly volume of 3,019 MU in November 2024 in comparison to 2,359 MU in November 2024, indicating a hike of 28 percent YoY.
As per the company reports,Day Ahead Contingency and Term-Ahead Market (TAM), which consists of contingency, daily & weekly, and monthly contracts up to three months, traded 202 MU in November 24 in comparison to 679 MU in November 23. This signifies a 70.3% YoY decline.
Due to abundant accessibility of sell side liquidity, customers preferred DAM and RTM sections this month.
The volume of the IEX Green Market, which combines of the Green Day-Ahead and Green Term-Ahead Market sectors, expanded by 331.8 percent year over year to 818 MU in November 24 from 189 MU in November 23.
The volume of the Green Day-Ahead Market (G-DAM) hiked by 335.2 percent year over year to 793 MU in November 24 at a weighted average price of Rs 3.19 per unit, as compared to 182 MU in November 23.
