The Indian Energy Exchange (IEX) traded its highest monthly green energy volume of 989.6 MU million units (MU) in July 2024, a 259% year-over-year (YoY) increase from 275.4 MU.

The weighted average Green Day-Ahead Market (G-DAM) price was ₹4.34 (~$0.052)/kWh. G-DAM cleared volume recorded an all-time high of 50 MU on July 28.

The Exchange achieved the highest monthly total volume (including certificates) of 13,250 MU in July 2024, marking a 56% YoY increase.

According to government data published in July 2024, the country’s energy consumption reached 145.4 BUs, representing a 4% increase YoY.

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

The Day-Ahead Market volume increased to 5,056 MU in July, registering an increase of 27% YoY compared to 3,976 MU.

The Real-Time Electricity Market volume increased to 3,334 MU from 2,540 MU, registering an increase of 31% YoY.

The Day-Ahead Contingency and Term-Ahead Market, comprising contingency, daily and weekly, and monthly contracts up to three months, traded 712 MU during July.

Renewable Energy Certificates (REC)

A record volume of 3.15 million RECs (equivalent to 3,150 MU) was traded on July 10 and July 31, marking a 405% YoY increase. The clearing prices were ₹128 (~$1.53)/REC and ₹120 (~$1.43)/REC, respectively, with the latter being an all-time low.

The next REC trading sessions at IEX are scheduled for August 14 and 28.

Energy Saving Certificates (ESCerts)

During July, 7,000 ESCerts (equivalent to 7 MU) were traded on IEX at the floor price of ₹2,165 (~$26)/ESCert.

The Exchange traded 744 MU of green energy in June 2024.

IEX had recorded a total annual income of ₹5.51 billion (~$66.02 million) in financial year 2024, a 16% increase YoY.