The Indian Energy Exchange (IEX) traded 723 million units (MU) of green energy in September 2024, a 214% year-over-year (YoY) increase from 230 MU.

The Green Day-Ahead Market (G-DAM) achieved 712.5 MU volume during September 2024 with a weighted average price of ₹4.59 (~$0.055)/kWh, compared to 140.2 MU in September 2023, an increase of 408% YoY. The total volume on the segment during the quarter was 2,534 MU, a growth of 394% over Q2 FY2024.

The Green Term-Ahead Market (G-TAM) achieved 10.4 MU volume in September 2024, with an average monthly price of non-solar at ₹8.28 (~$0.099)/kWh. The segment’s total volume during the quarter was 49.7 MU.

Indian Energy Exchange achieved a total monthly volume of 11,370 MU in September 2024, a 24% YoY increase. The monthly electricity volume, at 10,332 MU, increased 21% YoY.

Government data from September 2024 shows India’s energy consumption reached 141.3 billion units (BUs), remaining steady year-on-year. A robust monsoon significantly boosted hydro and wind power generation, leading to a marked price reduction in the power markets.

The Market Clearing Price in the Day-Ahead Market (DAM) dropped by 33% to ₹4.18 (~$0.050)/kWh, while the Real-Time Market (RTM) price fell by 28% to ₹3.98 (~$0.047)/kWh, contributing to an increase in trading volumes throughout the month.

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

The Day-Ahead Market (DAM) volume increased to 4,610 MU in September 2024 from 3,467 MU in the same month last year, registering an increase of 33% YoY. The DAM segment registered total volumes of 14,332 MU during Q2 FY 2025, an increase of 27% over Q2 FY2024.

The Real-Time Electricity Market (RTM) achieved its highest-ever monthly volume of 3,913 MU, up from 2,923 MU in September 2023, registering a 34% year-over-year increase. The RTM segment registered a record volume of 10,732 MU during Q2 FY2025, up 31% year over year.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily, weekly, and monthly contracts up to 3 months, traded 1,086 MU during the month, dropping 43 % YoY. The total volume in the segment during the quarter was at 2,684 MU, a decline of 42% YoY.

Renewable Energy Certificate Market (REC MARKET)

A total of 1.03 million RECs (equivalent to 1,031 MU), an increase of 100% YoY, were traded in the trading sessions held on September 11, 2024, and September 25, 2024, at a clearing price of ₹112 (~$1.33)/REC and ₹110 (~$1.31)/REC respectively. A total of 6.29 million RECs (equivalent to 6,297 MU), an increase of 353% YoY, were traded during the quarter.

At ₹110 (~$1.31)/ REC, it is the lowest-ever price discovered of REC in a trading session since inception.

The next REC trading sessions at IEX are scheduled for October 9, 2024, and October 30, 2024.

The Exchange traded 871 MU of green energy in August 2024.

IEX recorded a total annual income of ₹5.51 billion (~$66.02 million) in FY2024, a 16% increase YoY.