IEX Sees 14% Growth In Trade Volume In April
IEX records 14.1% growth in trade volume in April 2024, reaching 9,044 million units.
The Indian Energy Exchange posted 14.1% growth in its overall trade volume at 9,044 million units in April as compared to the year-ago period.
The exchange achieved 7,928 MU overall trade volume in April 2023, including green market trade of 280 MU, 1.99 lakh renewable energy certificates equivalent to 199 MU and 1.23 lakh energy savings certificates equivalent to 123 MU, as per IEX data.
RECs at 618 MU increased 211% year-on-year. At Rs 204 per certificate, the REC market recorded an all-time low price in the trading session held on April 24, 2024, a statement said.
REC prices declined 80% YoY.
These prices provide an opportunity to obligated consumers to meet their Renewable Purchase Obligations, and voluntary customers to meet their sustainability aspirations.
The Market Clearing Price in Day Ahead Market during April 2024 at Rs 5.1/unit reduced approximately 6% year-on-year.
The sell bids on the exchange (Day Ahead Market plus Real Time Market) during the month increased 21% YoY.
The DAM prices were lower by almost 45% as compared to prices discovered under bilateral contracts.
Favourable policy and regulatory interventions by the government and regulators led to an improved sell scenario, leading to increased sell liquidity at IEX, despite an increase in the country’s energy demand, it stated.
As a result of balance between supply and demand, prices on IEX have remained steadfast.
The DAM volume was at 4,116 MU in April 2024, as compared to 4,332 MU in April 2023. The Real-Time Electricity Market continued its growth trajectory in April 2024.
The RTM volume increased to 2,629 MU in April 2024 from 2,152 MU in the year-ago month.
Day Ahead Contingency and Term-Ahead Market, comprising contingency, daily & weekly and monthly contracts up to 3 months, traded 1,276 MU during April 2024, higher by 51.7% YoY.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 402 MU volume during April 2024.
Last month, 523 ESCerts (equivalent to 0.5 MU) were traded on IEX, at floor price of Rs 2,165 per ESCert.
