Indian Energy Exchange (IEX) recorded its highest-ever monthly traded volume in July 2024.
According to an IEX release, the exchange recorded trading volume of 13,250 MU. This volume, which included trading in certificates, was 56 per cent higher than that in July 2023, and was also historically the highest ever in a single month.
While electricity volume at 10,093 MU, increased 29 per cent year-on-year in July 2024, green electricity volume during the month, at 1 BU, more than trebled.
Trading in renewable energy certificates (REC) at 3,150 MU, increased 405 per cent year-on-year. At Rs.120 per certificate, the REC market recorded an all-time low price in the trading session held on July 31, 2024. These prices provide an opportunity to obligated entities (discoms and captive power producers) to meet their Renewable Purchase Obligations (RPO), and voluntary customers to meet their sustainability aspirations.
According to government data published in July 2024, the country’s energy consumption reached 145.4 BU, representing a nearly 4 per cent increase year-on-year.
A total of 31.50 lakh RECs (equivalent to 3,150MU) were traded in the trading sessions held on July 10, 2024 and July 31, 2024, at a clearing price of Rs.128 per REC and Rs.120 per REC, respectively.
The next REC trading sessions at IEX are scheduled on August 14, 2024 and August 28, 2024.
In July 2024, a total of 7,000 energy saving certificates (ESCerts), equivalent to 7 MU, were traded on IEX, at the floor price of Rs. 2,165 per certificate.
Also read: IEX sees electricity volume growth of 25 per cent in June
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