Indian Energy Exchange (IEX) achieved electricity traded volume of 9,689 MU (million units or million kwh) in November 2024, marking a 15.7 per cent year on year increase.
During the month, IEX traded 5.46 lakh renewable energy certificates recording a 27.7 per cent decline, year-on-year.
The release noted that according to government data published in November 2024, the country’s energy consumption reached 125 BUs, increase of 5 per cent compared to the previous year. Despite an increase in power demand, the Market Clearing Price in the Day Ahead Market at Rs.3.30 per unit during November 2024, declined 17.3 per cent year-on-year.
Similarly, the Market clearing price in the Real Time Market at Rs.3.46 per unit during November 2024, declined 13.4 per cent 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.
A total of 5.46 lakh renewable energy certificates (RECs) were traded in the trading sessions held on November 13, 2024 and November 27, 2024., at a clearing price of Rs.140 per REC and Rs.190 per REC, respectively.
The next REC trading sessions at the IEX are scheduled on December 11, 2024 and December 26, 2024.
Also read: IEX volumes grow 4 per cent in October 2024
Note: In the given table, totals might not tally due to rounding off.