Indian Energy Exchange reports strong growth in electricity trade in November

The Indian Energy Exchange (IEX) recorded a important emergence successful energy traded volumes successful November 2024.

According to a regulatory filing, IEX achieved a trading measurement of 9,689 cardinal units (MU) during the month, marking a 15.7 per cent year-on-year (YoY) increase.

Despite the emergence successful energy volumes, the renewable vigor certificate (REC) marketplace witnessed a decline. IEX traded 5.46 lakh RECs successful November 2024, a 27.7 per cent YoY drop. Trading sessions were conducted connected November 13 and November 27 astatine clearing prices of Rs 140 per REC and Rs 190 per REC, respectively.

Government information indicated that India's vigor depletion reached 125 cardinal units (BUs) successful November 2024, reflecting a 5 per cent YoY growth.

However, the Market Clearing Price successful the Day-Ahead Market (DAM) dropped 17.3 per cent YoY to Rs 3.30 per unit, portion successful the Real-Time Market (RTM), the terms fell 13.4 per cent YoY to Rs 3.46 per unit. The little prices were attributed to precocious supply-side liquidity and correspond the lowest levels recorded this fiscal year.

The Day-Ahead Market (DAM) achieved 5,651MU measurement successful November'24 arsenic compared to 5,144 MU measurement successful November'23, an summation of 9.8 per cent YoY.

The Real-Time Electricity Market (RTM) achieved monthly measurement of 3,019 MU successful November'24, arsenic compared to 2,359 MU successful November'23, registering an summation of 28 per cent YoY.

The institution noted that time Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, regular & play and monthly contracts up to 3 months, traded 202 MU during November'24, arsenic compared to 679 MU measurement successful November'23, a diminution of 70.3 per cent YoY.

Due to ample availability of merchantability broadside liquidity, buyers preferred the DAM and RTM segments this month.

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 818 MU measurement during November'24 arsenic compared to 189 MU successful November'23, registering an summation of 331.8 per cent YoY.

The Green Day-Ahead Market (G-DAM) achieved 793 MU measurement during November'24 with a weighted mean terms of Rs 3.19 per unit, arsenic compared to 182 MU successful November'23, registering an summation of 335.2 per cent YoY.