Indian Energy Exchange Achieves Record Trade Volume in July 2024

The Indian Energy Exchange reported its highest-ever trade volume of 13,250 million units in July 2024, a 56% increase year-over-year. This includes a significant rise in renewable and energy-saving certificates, with renewable energy volumes increasing by 405%. REC prices reached an all-time low, aiding various entities in meeting their obligations and sustainability goals.

The Indian Energy Exchange (IEX) announced on Monday that it achieved a record trade volume of 13,250 million units (MU) in July 2024, marking a 56% growth year-over-year.

Among the total trade volumes, Renewable Energy Certificates (REC) surged by 405%, reaching 3,150 MU. The REC market recorded an all-time low price of Rs 120 per certificate during the trading session on July 31, 2024. At these prices, various entities, including DISCOMS and Captive Power Producers, can meet their renewable purchase requirements, while voluntary customers can achieve their sustainability goals.

Electricity volumes also rose by 29% year-over-year to 10,093 MU, while the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market segments reached 989.6 MU, a 259% increase compared to July 2023. Additionally, 31.50 lakh RECs were traded in July 2024 at prices ranging from Rs 120 to Rs 128 per REC.

(With inputs from agencies.)