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Indian Energy Exchanges overall trade volume rises 14% to 9,044 million units in April
The Indian Energy Exchange (IEX) posted 14.1 per cent 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, 1,99,000 RECs (renewable energy certificates equivalent to 199 MU) and 1,23,000 ESCerts (energy savings certificates equivalent to 123 MU), as per IEX data.
RECs at 618 MU increased 211 per cent YoY (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 per cent 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 (DAM) during April 2024 at Rs 5.1/unit reduced approximately 6 per cent year-on-year. The sell bids on the exchange (Day Ahead Market plus Real Time Market) during the month increased 21 per cent YoY. The DAM prices were lower by almost 45 per cent 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.
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