Indian Energy Exchange Ltd. (IEX) achieved an electricity volume of 10,093 MU in July 2024, marking a 29% year-on-year increase. Green electricity volume for the month stood at 1 billion units, reflecting a 259% growth YoY. Shares of IEX are expected to be in focus during Monday’s trading session following the company’s report of its highest-ever monthly traded volume of 13,250 million units (MU) for July 2024, a 56% increase from the previous year.
The renewable energy certificates (REC) market saw a significant rise, with RECs increasing by 405% YoY to 3,150 MU. At ₹120 per certificate, the REC market recorded an all-time low price during the trading session on July 31, 2024. These prices present an opportunity for obligated entities (DISCOMS and Captive Power Producers) to meet their Renewable Purchase Obligations, and for voluntary customers to fulfill their sustainability goals.
Government data published in July 2024 indicated that India’s energy consumption reached 145.4 BUs, a 4% increase year-on-year.
The Day-Ahead Market (DAM) volume rose to 5,056 MU in July 2024, up from 3,976 MU in July 2023, registering a 27% increase YoY. The Real-Time Electricity Market (RTM) volume increased to 3,334 MU in July 2024, compared to 2,540 MU in July 2023, showing a 31% increase YoY.
The Day Ahead Contingency and Term-Ahead Market (TAM), which includes contingency, daily, weekly, and monthly contracts up to three months, traded 712 MU during July 2024.
The IEX Green Market, which includes the Green Day-Ahead and Green Term-Ahead Market segments, achieved a volume of 989.6 MU in July 2024, compared to 275.4 MU in July 2023, reflecting a 259% increase YoY.
Read More: Click Here