The Indian Energy Exchange (IEX) traded 872 MU (million units) of green energy in October 2024, a 364% year-over-year (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 Green Term-Ahead Market achieved a volume of 43 MU in October 2024 with an average monthly price of ₹3.49 (~$0.04)/kWh for solar, ₹8.02 (~$0.09)/kWh for non-solar, and ₹5.03 (~$0.05)/kWh for hydro, compared to 7 MU in October 2023, an increase of 498% YoY.

The IEX traded 9,642 MU (million units) of electricity in October, a 4% YoY increase. IEX also traded 444,000 renewable energy certificates (RECs), a 105% YoY rise.

India’s energy consumption reached 140.4 billion units, a 1% increase from the previous year. The market clearing price in the Day-Ahead Market was ₹3.92 (~$0.04)/kWh, a decline of 39% YoY. The market clearing price was ₹3.77 (~$0.04)/kWh in the Real-Time Market, a 38% YoY fall, in October.

Electricity Market: Day-Ahead, Real-Time Market & Term-Ahead

The Day-Ahead Market achieved 4,388 MU volume in October 2024 compared to 4,742 MU volume last year, a decline of 7%.

The Real-Time Electricity Market achieved a monthly volume of 3,123, compared to 2,402 MU in October 2023, an increase of 30%.

The Day-Ahead Contingency and Term-Ahead Market, traded 1,260 MU in October 2024, compared to 1,911 MU in October 2023, a decline of 34% YoY. 

Renewable Energy Certificates

A total of 444,000 RECs, were traded in the trading sessions held on October 9 and 30, 2024, at a clearing price of ₹110 (~$1.30)/REC and ₹120 (~$1.42)/REC, respectively.

The next REC trading sessions at the Exchange are scheduled for November 13, 2024, and November 27, 2024.

IEX traded 723 MU of green energy in September 2024, a 214% YoY increase from 230 MU.

The Exchange reported a consolidated revenue of ₹1.68 billion (~$20.1 million), an increase of 26.2% YoY in the second quarter of the financial year 2025.