Indian Energy Exchange Limited (BSE: 540750, NSE: IEX), India’s leading electricity trading platform, announced a substantial achievement for November 2024. The platform recorded a total electricity trade volume of 9,689 million units (MU), reflecting a robust 16% year-on-year (YoY) growth.
The Day-Ahead Market (DAM) contributed 5,651 MU to the total volume, showcasing a 9.8% YoY increase. Meanwhile, the Real-Time Market (RTM) saw significant growth, with 3,019 MU traded, marking a 28% YoY rise. The term-ahead market, which includes contingency and daily contracts, recorded a smaller share of 202 MU.
The Green Market, comprising the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market (G-TAM), achieved a remarkable 332% YoY growth, with 818 MU traded. The G-DAM segment accounted for 793 MU, while G-TAM traded 25 MU, emphasizing the growing adoption of renewable energy solutions.
Despite the increased electricity demand, market clearing prices remained favorable. The Day-Ahead Market’s clearing price stood at ₹3.30/unit, down 17% YoY, and the RTM clearing price was ₹3.46/unit, reflecting a 13% decline. These low prices present cost-effective opportunities for Discoms and Open Access consumers to optimize their power purchases.
The Renewable Energy Certificate (REC) Market saw the trading of 5.46 lakh RECs across two sessions in November 2024. Clearing prices for these sessions were ₹140/REC and ₹190/REC, respectively, underscoring the sustained interest in green certificates.
