IEX's trade volume surged nearly 21% in September, reaching 11,370 million units

Tre volume: Indian Energy Exchange (IEX) reported robust growth in tre volume for September 2024 with total volumes at 11,370 MU which marked a substantial 24 per cent year-over-year growth in overall volumes of year so far.

Electricity tring alone accounted for 10,332 MU, registering a 21 per cent jump compared with same period last year. This was driven by favorable wear -- stey monsoons throughout period that kept hydro and wind power generation surging -- that has pushed hydro and wind power generation up, leing to a sharp decline in DAM and RTM prices; hence, high tring activity.

Market Clearing Price in Day-Ahe Market h averaged Rs 4.18 per unit while registering a decline of 33 per cent as compared to September 2023. price in Real-Time Market declined to Rs 3.98 per unit, with a year-on-year fall of 28 per cent.

DAM volume jumped to 4,610 MU in September 2024 compared with corresponding previous year's volume of 3,467 MU, reby witnessing a year-over-year growth of 33 per cent. This was also first-ever record in monthly volume of RTM. It h increased by 34 per cent from 2,923 MU in September 2023.

In renewables space, IEX Green Market, a set of G-DAM and G-TAM, rose by a whopping 214 per cent to 723 MU as against previous September 230 MU. G-DAM saw a jump of 408 per cent, which stood at 712.5 MU with a weighted average price of Rs 4.59 per unit.

It was a milestone for REC market in terms of tring volume as it doubled year-on-year to 1,031 MU. Prices of RECs also dipped to an all-time low of Rs 110 per certificate during tring sessions held on September 25, 2024, and refore, very cheaply obligated entities such as DISCOMS and Captive Power Producers can meet ir Renewable Purchase Obligations.

This development marks IEX's strategic contribution toward higher tring of electricity and a shift to renewable sources of power.