IEX Sees Significant Surge in Electricity Volumes in June 2024

03 Jul 2024 CW Team

The Indian Energy Exchange (IEX) reported a substantial 24.7 percent increase in electricity volumes for June 2024, with total volumes reaching 10,185 million units (MU). Including certificates, the monthly volume rose to 10,677 MU, marking a 19.4 percent year-on-year growth.

In the first quarter of fiscal year 2025, IEX achieved a total electricity volume of 28,178 MU, reflecting a 19 percent increase from the previous year. When including certificates, the overall volume for the quarter reached 30,354 MU, showcasing a 20.8 percent growth compared to the first quarter of FY2024.

Amidst hot weather conditions driving up electricity demand, India?s energy consumption for the quarter stood at 452 billion units (BUs), up by 11.2 percent from the same period last year. The country's peak demand during the quarter reached a record high of 250 gigawatts (GW), surpassing the previous high of 243 GW set in September of last year.

The Day Ahead Market (DAM) recorded a volume of 4,849 MU in June 2024, an 18.2 percent increase from June 2023. The Real-Time Electricity Market (RTM) saw a volume of 3,213 MU, up 20.1 percent year-on-year. The Green Day-Ahead Market (G-DAM) reported a significant volume of 680 MU at a weighted average price of Rs 4.14 per unit, a staggering 309.5 percent increase compared to June 2023. Additionally, the Green Term-Ahead Market (G-TAM) traded 64 MU at an average monthly price of Rs. 8.88 per unit for non-solar energy.

Renewable Energy Certificates (RECs) trading also saw notable activity, with a total of 4.39 lakh RECs traded in June at prices of Rs 150 and Rs 140 per REC, marking the lowest prices discovered since the inception of REC trading.

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