Indian Energy Exchange (IEX), achieved 8946 MU overall volume in June 2023, including green market trade of 272 MU, 5.33 lakh RECs (equivalent to 533 MU) and 2.44 lakh ESCerts (equivalent to 244 MU), the company on Wednesday announced through an exchange filing.
The overall volume during the month was higher 8 percent on YoY basis. IEX achieved 25,125 MU volume across all segments during Q1 FY24, growing 8 percent over Q1 FY23.
The price during June 23 at Rs. 5.37/unit, declined 17 percent YoY, while the average market clearing price during the Q1 FY24 period was Rs. 5.17/unit, decline of 33 percent over the corresponding quarter last year. Supply side scenario during the quarter improved due to enhanced coal supply, reduction in e-auction coal prices, and consistently declining imported coal and gas prices. Increased liquidity on the Exchange led to sharp correction in prices, resulting in optimisation opportunities and higher clearance for Discoms & Open Access consumers.
As per data published by GRID-INDIA, energy met in the country during June 23 stood at 140 BU, increasing 4.3 percent on YoY basis.
Electricity Market: Day-Ahead, Term-Ahead & Real-Time market
The Day-Ahead Market (DAM) volume increased to 4103 MU in June 23 from 4065 MU in June 22, growing 1 percent YoY. The average market clearing price was Rs. 5.37/unit during the month, lower by 17 percent over the corresponding month last year. The DAM segment registered 12501 MU during Q1 FY24, 11 percent growth over Q1 FY23 due to improved prices.
The Real-Time Electricity Market (RTM) achieved its highest-ever monthly volume of 2675 MU during June 23, registering 21 percent YoY growth. There were 765 participants in this segment during the month. During the month of June 23, RTM trade volume saw trade of more than 100 MUs for 9 days. The RTM segment registered volume of 7252 MU during Q1 FY 24, increasing 16 percent over Q1 FY 23. The consistent growth of RTM segment reflects its increasing acceptance among distribution utilities and industries to efficiently manage their power demand-supply on a real-time basis.
The Term-Ahead Market (TAM), comprising intra-day, contingency, daily & weekly contracts, and contracts up to 3 months, traded 1118 MU during June 23, higher 47 percent on YoY basis. The total volume on the segment during the quarter was 3017 MU, a marginal decline of 3 percent over Q1 FY 23.
Green Market: Green Day-Ahead & Green Term Ahead Market
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 272 MU volume during June 23, versus 540 MU achieved in June 22. The segment achieved 910 MU during Q1 FY24.
During June 23, Green Day-Ahead Market (G-DAM) achieved 166 MU volume with a weighted average price of Rs 4.95/unit. The market saw participation from 177 market participants during the month. During Q1 FY24, the segment achieved 524 MU.
The Green Term-Ahead Market (G-TAM) achieved 106 MU volume in June 23, with average monthly price for Solar at Rs 3.24/unit, for non-Solar at Rs 5.76/unit and for Hydro at Rs 6.28/unit. The G-TAM segment achieved 386 MU during Q1 FY24.
Renewable Energy Certificate Market
A total of 5.33 lakh RECs (equivalent to 533 MU) were cleared in the trading session at IEX held on Wednesday, 28th June, with price of Rs. 745/REC. A total of 8.75 lakh RECs (equivalent to 875 MU) were traded during Q1 FY24. The next REC trading session at the Exchange is scheduled on Wednesday, 26th July 23.
Energy Saving Certificates
During June 23, 2.44 lakh ESCerts (equivalent to 244 MU) were traded on IEX, at the floor price of Rs. 1,840 per ESCert. A total of 5.69 lakh ESCerts (equivalent to 569 MU) were traded in Q1 FY24.