IEX Green Market Achieves 331.8 Percent YoY Increase

Indian Energy Exchange (IEX) recorded a 15.7 percent year-on-year growth in electricity traded volumes, reaching 9,689 MU in November 2024, while its Green Market surged by 331.8 percent YoY to 818 MU.

December 03, 2024. By Mrinmoy Dey

Indian Energy Exchange (IEX) achieved an electricity traded volume of 9,689 MU in November 2024, marking a 15.7 percent year on year increase. During the month, IEX traded 5.46 lakh renewable energy certificates recording a 27.7 percent year-on-year decrease.

According to government data published in November 2024, the country's energy consumption reached 125 BUs, an increase of five percent compared to the previous year. Despite an increase in power demand, the Market Clearing Price in the Day Ahead Market at INR 3.30/unit during November 2024, declined 17.3 percent year-on-year.

Similarly, the Market clearing price in the Real Time Market at INR 3.46/unit during November 2024, declined 13.4 percent year-on-year. Prices were low due to high supply-side liquidity. On a monthly basis, these are the lowest prices discovered this fiscal year. These prices present an opportunity for Discoms and open access consumers to replace costlier power by purchasing through exchanges.

The Day-Ahead Market (DAM) achieved 5,651MU volume in November 2024 as compared to 5,144 MU volume in November 2023, an increase of 9.8 percent YoY.

The Real-Time Electricity Market (RTM) achieved a monthly volume of 3,019 MU in November 2024, as compared to 2,359 MU in November 2023, registering an increase of 28 percent YoY.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily and weekly and monthly contracts up to 3 months, traded 202 MU during November 2024, as compared to 679 MU volume in November 2023, a decline of 70.3 percent YoY. Due to ample availability of sell-side 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 volume during November 2024 as compared to 189 MU in November 2023, registering an increase of 331.8 percent YoY.

The Green Day-Ahead Market (G-DAM) achieved 793 MU volume during November 2024 with a weighted average price of INR 3.19 per unit, as compared to 182 MU in November 2023, registering an increase of 335.2 percent YoY.

The Green Term-Ahead Market (G-TAM) achieved 25 MU volume during November 2024 with an average monthly price of Solar – INR 3.50/unit, Non-Solar – INR 5.42/unit and Hydro – INR 3.68/unit, as compared to 7 MU in November 2023, registering an increase of 244.7 percent YoY.

A total of 5.46 lac RECs, were traded in the trading sessions held on November 13, 2024 and November 27, 2024, at a clearing price of INR 140/REC and INR 190/REC respectively. The next REC trading sessions at the Exchange are scheduled on December 11, 2024 and December 26, 2024.

Tags:

Investment & Trading

Indian Energy Exchange

IEX November 2024 update

IEX Power Market Update

Renewable energy certificates trading

Day-Ahead Market

Real-Time Electricity Market

Term-Ahead Market

IEX Green Market