IEX Sees 105 Percent YoY Increase in RE Certificates Trading in October 2024
Indian Energy Exchange (IEX) recorded a four percent year-on-year increase in electricity traded volume, reaching 9,642 MU in October 2024, along with a 105 percent rise in renewable energy certificates, totalling 4.44 lakh, as demand for renewable energy trading surged.
November 05, 2024. By Mrinmoy Dey
According to government data published in October 2024, the country's energy consumption reached 140.4 BUs, marginal increase of one percent compared to the previous year. The Market Clearing Price in the Day Ahead Market at INR 3.92/unit during October 2024, declined 39 percent year-on-year.
Similarly, the Market clearing price in the Real Time Market at INR 3.77/unit during October 2024, declined 38 percent year-on-year. These prices present an opportunity for Discoms and Open Access consumers to replace costlier power through purchasing through exchanges.
The Day-Ahead Market (DAM) achieved 4,388 MU volume in October 2024 as compared to 4,742 MU volume in October 2023, a decline of seven percent YoY.
The Real-Time Electricity Market (RTM) achieved a monthly volume of 3,123MU in October 2024, as compared to 2,402 MU in October 2023, registering an increase of 30 percent YoY.
Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily and weekly and monthly contracts up to three months, traded 1,260 MU during October 2024, as compared to 1,911 MU volume in October 2023, a decline of 34 percent YoY.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 872 MU volume during October 2024 as compared to 188 MU in October 2023, registering an increase of 364 percent YoY.
The Green Day-Ahead Market (G-DAM) achieved 829 MU volume during October 2024 with a weighted average price of INR 3.60 per unit, as compared to 181 MU in October 2023, registering an increase of 358 percent YoY.
The Green Term-Ahead Market (G-TAM) achieved 43 MU volume during October 2024 with a with average monthly price of Solar - INR 3.49/unit, Non-Solar - INR 8.02/unit and Hydro – INR 5.03/unit, as compared to 7 MU in October 2023, registering an increase of 498 percent YoY.
A total of 4.44 lac RECs, were traded in the trading sessions held on October 9, 2024 and October 30, 2024, at a clearing price of INR 110/REC and INR 120/REC respectively. The next REC trading sessions at the Exchange are scheduled on November 13, 2024 and November 27, 2024.
please contact: contact@energetica-india.net.
Aman Mehtani
Founder & Group CEO
ADM Group Offers Smart, Sustainable Solutions for Global Automotive Industry
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix