IEX clocks record energy trade volume
Turnover on Indian Energy Exchange rises 14% to all-time high of 110 BU
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New Delhi: Energy trading platform IEX on Thursday said it has logged the highest-ever trade volume of 110 billion units (BU) in the fiscal year 2023-24, registering a growth of nearly 14 per cent year-on-year. The total trade volume has crossed the 100 BU-mark for the first time in FY24, the exchange said. IEX (Indian Energy Exchange) achieved 110 BU total trade volume in FY24, registering an increase of 13.8 per cent on a Y-o-Y basis, according to a statement.
Giving segment-wise break-up, it said that 75.39 lakh RECs (Renewable Energy Certificates), equivalent to 7,539 million units, were traded during FY24, registering an increase of 26 per cent year-on-year. The government undertook several measures which led to a better supply scenario in the country, as a result of which the sell side liquidity improved on the exchange, it said.
During the year, the sell liquidity on the exchange increased by 16.9 per cent Y-o-Y, which led to a decline in the DAM (day ahead market) prices by 12 per cent from Rs5.94 per unit in FY23 to Rs5.24 per unit in FY24.
During the fourth quarter of FY24 (January-March), IEX achieved 30.1 BU volume across all segments, registering an increase of 15.7 per cent annually.
