IEX has reported a record total trade volume at 13,250 million units for July 2024, up 56 per cent year-over-year. The corpus includes renewable energy certificates and energy-saving certificates, thus depicting significant growth in trades of renewable energy.
Electricity volumes touched 10,093 million units, a rise of 29% over the corresponding period last year. Volumes at the REC market were a remarkable jump, touching 3,150 million units, a rise of 405% y-o-y. Green electricity volume surged by 259% to touch 1 billion units.
On July 31, 2024, it created an all-time low price of Rs.120 per Certificate in the REC market during the trading session. At this low price, it provides excellent opportunities to DISCOMS and Captive Power Producers to demonstrate their renewable purchase obligations, and for Voluntary Customers to achieve Sustainability Goals.
The Day-Ahead Market (DAM) saw a volume increase to 5,056 MU in July 2024 from 3,976 MU in July 2023, registering a 27 percent year-on-year growth. The Real-Time Electricity Market (RTM) volume increased to 3,334 MU from 2,540 MU, showing a 31 percent YoY rise.
Its Day Ahead Contingency and Term-Ahead Market, comprising contingency, daily, weekly, and monthly contracts, saw a volume of 712 MU in July 2024. On its part, IEX Green Market, consisting of the Green Day-Ahead and Green Term-Ahead Market segments, traded 989.6 MU against 275.4 MU in July 2023, which translates to a growth of 259 percent YoY. The weighted average price in the G-DAM market is envisaged to be at Rs 4.34 per unit, while the peak volume is expected to be 50 MUs on July 28, 2024.
On July 10, 2014, and July 31, 2014, a total of 31.50 lakh RECs amounting to 3,150 MU were respectively traded at the clearing prices of Rs 128/REC and Rs 120/REC. Apart from this, 7,000 ESCerts amounting to 7 MU were traded during the month at a floor price of Rs 2,165 per ESCert.
These successes underline IEX’s increasing participation and critical contribution to growing the practices of sustainable energy in India.
Source: Indian Energy Exchange