The Indian Energy Exchange (IEX) traded 818 million units (MU) of green energy during November 2024, a 331.8% increase from 189 MU in the same month in 2023.

The Green Day-Ahead Market (G-DAM) achieved 793 MU during this month, with a weighted average price of ₹3.19 (~$0.038) per unit, compared to 182 MU in November 2023, registering an increase of 335.2% year-over-year (YoY).

The Green-Term Ahead Market (G-TAM) traded 25 MW, with an average monthly price of ₹3.50 (~$0.041)/kWh for solar, ₹3.68 (~$0.043)/ for hydro, and ₹5.42 (~$0.064)/kWht for non-solar.

IEX cited government data to say that the country’s energy consumption reached 125 billion units (BU), an increase of 5% YoY.

In November, IEX’s electricity traded volume of 9,689 MU marked a 15.7% YoY increase. The market clearing price in the Real-Time Market at ₹3.46/kWh declined 13.4% YoY. Prices were low due to high supply-side liquidity.

On a monthly basis, these are the lowest prices discovered this fiscal year. IEX said these prices present an opportunity for distribution companies and open access consumers to replace costlier power through exchange purchases.

The Day-Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily, weekly, and monthly contracts up to three months, traded 202 MU during the month, compared to 679 MU last November. Due to the ample availability of sell-side liquidity, buyers preferred the DAM and RTM segments this month.

Renewable Energy Certificates

IEX traded 54.6 million renewable energy certificates (REC) in two different sessions, which is a 27.7% YoY fall from last year.

The clearing price was ₹140 (~$1.65)/REC for the trading session held on November 13 and ₹190(~$2.24)/REC for the session on November 27.

Last month, IEX traded 872 MU of green energy, a 364% YoY increase from 188 MU. The Green Day-Ahead Market achieved a volume of 829 MU in October 2024 with an average price of ₹3.60 (~$0.04)/kWh, an increase of 358% compared to 181 MU in the same month in 2023.

The Exchange reported a consolidated revenue of ₹1.68 billion (~$20.1 million), a 26.2% YoY in the second quarter of the financial year 2025. The quarter’s consolidated profit after tax stood at ₹1.08 billion (~$12.9 million), a 25.2% increase YoY.