New Delhi: Indian Energy Exchange, India’s premier electricity exchange, achieved the highest ever total volume (including certificates) of 13,250 MU in July 2024, marking a ~56% year-over-year increase. The electricity volume at 10,093 MU, increased 29% YoY. Green electricity volume during the month at 1 BU, grew 259% YoY. The renewable energy certificates (REC) at 3,150 MU, increased 405% YoY. At Rs. 120 per certificate, the REC market recorded an all-time low price in the trading session held on 31st July 2024. These prices provide an opportunity to obligated entities (DISCOMS and Captive Power Producers) to meet their Renewable Purchase Obligations, and voluntary customers to meet their sustainability aspirations. According to government data published in July 2024, the country’s energy consumption reached 145.4 BUs, representing ~4% increase year-on-year.
The Day-Ahead Market (DAM) volume increased to 5,056 MU in July’24, from 3976 MU in July’23, registering an increase of 27% YoY. The Real-Time Electricity Market (RTM) volume increased to 3,334 MU in July ‘24, from 2540 MU in July’23, registering an increase of 31% YoY. Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 712 MU during July’24.