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IEX electricity volume climbs 16% YoY to 9,689 MU in Nov'24

04-Dec-24 11:20 Hrs IST

During the month, the company has traded 5.46 lakh renewable energy certificates, recording a 27.7% YoY decrease.

According to government data published in November 2024, the country's energy consumption reached 125 billion units, a marginal increase of 5% compared to the previous year.

The Day-Ahead Market (DAM) volume decreased to 5,651 MU in November 2024 as compared to 5,144 MU in November 2023, registering an increase of 9.8%.

The Real-Time Electricity Market (RTM) volume increased 28% YoY to 3,019 MU in November'24.

The Day Ahead Contingency and Term-Ahead Market (TAM), which includes contingency, daily, weekly, and monthly contracts up to three months, traded 202 million units (MU) in Nov'24, a decline of 70.3% YoY. Due to ample availability of sell-side liquidity, buyers preferred the DAM and RTM segments this month.

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 818 MU volumes during November 2024 as compared to 189 MU in November'23, registering an increase of 331.8% YoY.

The Green Day-Ahead Market (G-DAM) achieved 793 MU volume during November 2024 with a weighted average price of Rs 3.19 per unit, as compared to 182 MU in November 2023, registering an increase of 335.2% YoY.

The Green Term-Ahead Market (G-TAM) recorded a volume of 25 million units (MU) in November'24, with average monthly prices of Rs 3.50 per unit for solar, Rs 5.42 per unit for non-solar, and Rs 3.68 per unit for hydro. This represents 244.7% YoY growth compared to the 7 MU traded in November 2023.

A total of 5.46 lakh renewable energy certificates (RECs), were traded in the trading sessions held on 13th November'24 and 27th November'24, at a clearing price of Rs 140/REC and Rs 190/REC, respectively.

The next REC trading sessions at the exchange are scheduled on 11th December 2024 and 26th December 2024.

IEX is India's premier energy exchange, providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.

The company's consolidated net profit jumped 25.3% to Rs 108.32 crore on a 28.4% increase in revenue from operations to Rs 139.40 crore in Q2 FY25 over Q2 FY24.

Shares of IEX declined 0.11% to Rs 177.90 on the BSE.