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2 min read | Updated on June 06, 2024, 12:05 IST
SUMMARY
IEX said electricity volumes rose 21% YoY to 9,568 MU during the month while renewable energy certificates (REC) rose 640.3% YoY at 1,055 MU. The day-ahead market (DAM) volume increased to 4,371 MU in May 2024 from 4,066 MU in the same period last year, registering an increase of 7.5% YoY.
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IEX shares rally on second consecutive day
Indian Energy Exchange achieved a monthly overall volume of 10,633 million units (MU) in May 2024, registering a 28.9% year-over-year (YoY) increase.
Electricity volumes rose 21% YoY to 9,568 MU during the month while renewable energy certificates (REC) rose 640.3% YoY to 1,055 MU.
The day-ahead market (DAM) volume increased to 4,371 MU in May 2024 from 4,066 MU in the same period last year, registering an increase of 7.5% YoY. At the same time, the real-time electricity market (RTM) reported the highest-ever monthly traded volume last month at 3,352 MU compared to 2,424 MU in May 2023, registering an increase of 38.3% YoY.
The firm stated that on average more than 100 MUs were traded daily in the RTM segment in last month. The day-ahead contingency and term-ahead market (TAM), comprising of contingency, daily, weekly, and monthly contracts up to 3 months, traded 1,221 MU during the month, higher by 15.4 % on a YoY basis.
“According to government data published in May 2024, the country's energy consumption reached 156.3 BUs, representing 15% increase on a year-on-year basis. Notably, on May 30, 2024, the country witnessed an all-time high peak demand of 250 GW along with the highest ever single day energy consumption of 5,466 MU,” IEX pointed out.
IEX green market, which comprises the green day-ahead and green term-ahead market segments, achieved 622.2 MU volume during May 2024 as compared to 357.7 MU in May 2023, recording an increase of 73.9% YoY.
The firm pointed out that a total of 10.55 lakh RECs, equivalent to 1,055 MU, were traded on May 8 and May 29, at a clearing price of ₹185/REC and ₹165/REC, respectively.
Shares of the company have lost over 6% since the beginning of the year. The stock has gained over 6% in the last one year.
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