New Delhi: Indian Energy Exchange announced on Monday that it had reached a record total trade volume of 13,250 million units (MU) in July 2024, marking a 56 percent increase from the previous year. The overall trade volume comprises both renewable energy certificates and energy-saving certificates according to a statement from the Indian Energy Exchange (IEX).
Electricity quantities hit 10,093 MU, showing a 29 percent rise compared to the previous year. According to the company, there was a significant increase in Renewable Energy Certificates (REC) volume, reaching 3,150 MU, marking a 405 percent annual growth. The amount of green electricity increased by 259 per cent to reach 1 billion units during the month being evaluated.
During the trading session on 31 July 2024, the REC market experienced its lowest price ever at Rs 120 per certificate. These prices create a chance for DISCOMS and Captive Power Producers to fulfill their renewable purchase obligations, and for voluntary customers to achieve their sustainability goals. The volume in the Day-Ahead Market (DAM) rose by 27 percent year-on-year, reaching 5,056 MU in July 2024 compared to 3,976 MU in July 2023.
The volume of the Real-Time Electricity Market (RTM) rose to 3,334 MU in July 2024, up 31 percent from 2,540 MU in July 2023. The Day Ahead Contingency and Term-Ahead Market (TAM) traded 712 MU in July 2024, including contingency, daily & weekly, and monthly contracts for up to 3 months.
In July 2024, the combined Green Day-Ahead and Green Term-Ahead segments of IEX Green Market saw a 259 percent year-on-year increase in volume, reaching 989.6 MU compared to 275.4 MU in July 2023. The G-DAM market had a weighted average price of Rs 4.34 per unit. IEX G-DAM achieved its highest recorded cleared volume of 50 MU on July 28, 2024. A grand total of 31.50 lakh RECs were issued.
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