New Delhi: Indian Energy Exchange (IEX), India’s leading energy exchange, achieved 9260 MU total electricity volume in October 2023, registering an increase of 21% on YoY basis. IEX achieved 9,483 MU overall volume, including 2.17 Lac Renewable Energy Certificates (RECs) (equivalent to 217 MU) and 5,814 Energy Saving Certificates (ESCerts) (equivalent to 5.8 MU). The overall volume traded during October increased 18% on YoY basis.
According to data published by GRID-INDIA, in October ’23, the country’s energy consumption reached 139 billion units, marking a substantial 22% year-on-year increase due to a surge in electricity demand owing to increase in electricity consumption, below-average rainfall in October, and a lower base from the same month last year. This upsurge in power demand prompted DISCOMs to actively purchase power on the exchange to meet the increased demand, thereby leading to a significant increase in trade volumes on IEX. This surge in demand pushed Day-Ahead Market (DAM) prices on the Indian Energy Exchange (IEX) to Rs. 6.45 per unit, representing a substantial 68% year-on-year increase on a lower base price from the same month last year.
Electricity Market :
The Day-Ahead Market (DAM) volume increased to 4,742 MU in October ’23, from 4,379 MU in October ’22, growing 8.3 % YoY. The Real-Time Electricity Market (RTM) volume increase to 2,402 MU in October ‘23, from 2,265 MU in October ’22, registering an increase of 6.1% YoY.
Green Market :
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 188 MU volume during Ocotber’23 The Green Day-Ahead Market (G-DAM) achieved 180.80 MU volume during the month, with a weighted average price of Rs 6.37 per unit. The segment saw participation from 194 market participants during the month. The Green Term-Ahead Market (G-TAM) achieved 7.23 MU volume in October ‘23, with average monthly price of Non-Solar- Rs 8.40/unit