Renewable Energy Certificates (REC) saw a surge, with volumes hitting 3,150 MU, a rise of 405 percent year-over-year
Indian Energy Exchange said it has achieved the highest-ever total trade volume of 13,250 million units (MU) in July 2024, registering an increase of 56 percent year-over-year.
The total trade volume includes renewable energy certificates and energy-saving certificates, as per an Indian Energy Exchange (IEX) statement.
Electricity volumes reached 10,093 MU, marking an increase of 29 percent year-over-year.
Renewable Energy Certificates (REC) saw a surge, with volumes hitting 3,150 MU, a rise of 405 percent year-over-year, the company said.
Green electricity volume grew 259 percent at 1 BU (billion units) during the month under review.
At Rs 120 per certificate, the REC market recorded an all-time low price in the trading session held on 31 July 2024.
These prices provide an opportunity for entities (DISCOMS and Captive Power Producers) to meet their renewable purchase obligations and for voluntary customers to meet their sustainability aspirations.
The Day-Ahead Market (DAM) volume increased to 5,056 MU in July 2024 from 3,976 MU in July 2023, registering an increase of 27 percent year-on-year.
The Real-Time Electricity Market (RTM) volume increased to 3,334 MU in July 2024 from 2,540 MU in July 2023, registering an increase of 31 percent YoY.
Day Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily, weekly, and monthly contracts up to 3 months, traded 712 MU during July 2024.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 989.6 MU volume during July 2024 as compared to 275.4 MU in July 2023, registering an increase of 259 percent YoY.
The weighted average price of the G-DAM market was Rs 4.34 per unit.
IEX G-DAM cleared volume recorded an all-time high of 50 MU on July 28, 2024.
A total of 31.50 lakh renewable energy certificates (RECs) (equivalent to 3,150 MU) were traded in the trading sessions held on 10 July 2024 and 31 July 2024, at a clearing price of Rs 128/REC and Rs 120/REC respectively.
During July 2024, 7,000 energy saving certificate ESCerts (equivalent to 7 MU) were traded on IEX at a floor price of Rs 2,165 per ESCert.