Indian Energy Exchange sets record in July with 56 per cent YoY increase

The electricity volume at 10,093 MU, increased 29 per cent YoY. Green electricity volume during the month at 1 BU, grew 259 per cent YoY.

Indian Energy Exchange, India’s premier electricity exchange, achieved the highest-ever total volume (including certificates) of 13,250 MU in July 2024, marking a ~56 per cent year-over-year increase. The electricity volume at 10,093 MU, increased 29 per cent YoY. Green electricity volume during the month at 1 BU, grew 259 per cent YoY. 

 The renewable energy certificates (REC) at 3,150 MU, increased 405 per cent YoY. At ₹ 120 per certificate, the REC market recorded an all-time low price in the trading session held on 31st July 2024. These prices provide an opportunity to obligated entities (DISCOMS and Captive Power Producers) to meet their Renewable Purchase Obligations, and voluntary customers to meet their sustainability aspirations.

According to government data published in July 2024, the country’s energy consumption reached 145.4 BUs, representing a ~4 per cent increase year-on-year. 

Electricity market: day-ahead, term- ahead & real-time market

The Day-Ahead Market (DAM) volume increased to 5,056 MU in July’24, from 3976 MU in July’23, registering an increase of 27 per cent YoY. 

The Real-Time Electricity Market (RTM) volume increased to 3,334 MU in July ‘24, from 2540 MU in July’23, registering an increase of 31 per cent YoY. 

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 712 MU during July’24. 

Green market: green day-ahead & green term-ahead market

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 989.6 MU volume during July’24 as compared to 275.4 MU in