Indian Energy Exchange, India’s premier electricity exchange, achieved electricity traded volume of 9,689 MU in November’24, marking a 15.7% year on year increase. During the month, IEX traded 5.46 lakh renewable energy certificates recording a 27.7% year on year decrease.
According to government data published in November 2024, the country’s energy consumption reached 125 BUs, increase of 5% compared to the previous year. Despite an increase in power demand, the Market Clearing Price in the Day Ahead Market at Rs 3.30/unit during November 2024, declined 17.3% year-on-year. Similarly, the Market clearing price in the Real Time Market at Rs 3.46/unit during November 2024, declined 13.4% 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 through purchasing through exchanges.
ELECTRICITY MARKET: DAY- AHEAD, REAL-TIME MARKET & TERM- AHEAD
The Day-Ahead Market (DAM) achieved 5,651MU volume in November’24 as compared to 5,144 MU volume in November’23, an increase of 9.8% YoY.
The Real-Time Electricity Market (RTM) achieved monthly volume of 3,019 MU in November‘24, as compared to 2,359 MU in November’23, registering an increase of 28% YoY.
Day Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily & weekly and monthly contracts up to 3 months, traded 202 MU during November’24, as compared to 679 MU volume in November’23, a decline of 70.3% YoY. Due to ample availability of sell side liquidity, buyers preferred the DAM and RTM segments this month.
GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 818 MU volume during November’24 as compared to 189 MU in November’23, registering an increase of 331.8% YoY.
The Green Day-Ahead Market (G-DAM) achieved 793 MU volume during November’24 with a weighted average price of Rs 3.19 per unit, as compared to 182 MU in November’23, registering an increase of 335.2% YoY.
The Green Term-Ahead Market (G-TAM) achieved 25 MU volume during November’24 with a with average monthly price of Solar- Rs 3.50/unit, Non-Solar- Rs 5.42/unit and Hydro – Rs 3.68/unit, as compared to 7 MU in November’23, registering an increase of 244.7% YoY.
RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)
A total of 5.46 lac RECs, were traded in the trading sessions held on 13th November’24 and 27th November’24., at a clearing price of Rs. 140/REC and Rs. 190/REC respectively.
The next REC trading sessions at the Exchange are scheduled on 11th December’24 and 26th December’24.
INDIAN ENERGY EXCHANGE LIMITED
IEX is India’s premier electricity exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy and certificates including renewable energy certificates as well as the energy saving certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the energy market in India while also enhancing the speed and efficiency of trade execution. The Exchange is ISO Certified for quality management, Information security management and environment management since August 2016. The Exchange is a publicly listed company with NSE and BSE since October 2017 and is approved and regulated by Central Electricity Regulatory Commission since 27 June 2008.
