Trade volume on IEX rises 18% in Oct
Indian Energy Exchange clocks trading of 9,483 mn units due to surge in electricity demand, lower rainfall and base effect
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New Delhi: The Indian Energy Exchange (IEX) reported 18 per cent rise in its trade volume to 9,483 million units (MU) in October due to surge in electricity demand, lower rainfall and base effect. “IEX achieved 9,483 MU overall volume, including 2.17 lakh Renewable Energy Certificates (equivalent to 217 MU) and 5,814 Energy Saving Certificates (equivalent to 5.8 MU). The overall volume traded during October increased 18 per cent on YoY basis,” an IEX statement said.
IEX achieved 9,260 MU total electricity volume in October 2023, registering an increase of 21 per cent year-on-year. Last month, the country’s energy consumption reached 139 billion units, marking a substantial 22 per cent year-on-year increase due to a surge in electricity demand, below-average rainfall, and a lower base of the year-ago period. This surge in power demand prompted DISCOMs to actively purchase power on the exchange to meet demand, thereby leading to a significant increase in trade volumes on IEX, it stated.
The increase in demand pushed Day-Ahead Market (DAM) price on IEX to Rs6.45 per unit, representing 68 per cent year-on-year increase on a lower base price of the same month last year. The DAM volume increased to 4,742 MU in October 2023 from 4,379 MU in the year-ago month.
The Real-Time Electricity Market (RTM) volume increase to 2,402 MU in October 2023 from 2,265 MU in the same month a year ago, registering an increase of 6.1 per cent YoY.
