IEX logs 19% growth in trade volumes
Indian Energy Exchange achieved overall trade volume of 28,178 MUs in Jun qtr as against 23,680 mn units in previous corresponding period
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New Delhi: The Indian Energy Exchange (IEX) on Tuesday posted a 19 per cent growth in its overall trade volume to 28,178 million units in the April-June period of FY25.The exchange achieved 23,680 million units (MU) overall trade volume in the year-ago period. “For the first quarter, IEX achieved electricity volume of 28,178 MU, an increase of 19 per cent year-on-year (y-o-y). Total volume for the quarter, including certificates, was at 30,354 MU, up 20.8 per cent from 25,125 MU in Q1 FY24,” it said.
In June alone, volume trade was 10,185 MU, 24.7 per cent higher from 8,168 MU in June 2023. The total volume in the month, including certificates, increased 19.4 per cent to 10,677 MU from 8,946 MU a year ago. Hot weather conditions led to an unprecedented surge in electricity demand during the first quarter of this financial year. The country’s energy consumption of 452 BUs in Q1 FY25 was 11.2 per cent higher compared to Q1 FY24.
During the quarter, the country’s peak demand reached 250 GW, surpassing the previous high of 243 GW recorded in September last year. “Despite the increase in the electricity consumption, the market clearing price in Day Ahead Market on June 24 was Rs 5.40/unit, similar to last year, however, it was lower by more than 20 per cent as compared to prices discovered under bilateral contracts,” IEX statement said.
The Day-Ahead Market (DAM) volume increased to 4,849 MU in June from 4,103 MU on June 23, registering an increase of 18.2 per cent year-on-year. The Real-Time Electricity Market (RTM) volume increased to 3,213 MU in June 2024 from 2,675 MU in June 2023, registering an increase of 20.1 per cent. A total of 21.12 lakh renewable energy certificates (RECs) (equivalent to 2,112 MU) were traded during Q1 FY25.
