Indian Energy Exchange (IEX) has achieved a 17.5 per cent year-on-year growth in overall volumes in November 2023.
In a release, IEX said that it recorded an overall volume of 9,136 MU in November 2023 that was 17.5 per cent higher than that in November 2022.
In terms of electricity volume (which is total volume less REC and ESCerts), the corresponding growth was 13 per cent with November 2023 volumes standing at 8,371 MU.
The IEX release noted that the country’s energy consumption reached 120 billion units (Gwh), representing an 8.5 per cent increase on a year-on-year basis. The Market Clearing Price in Day Ahead Market during November 2023 was Rs.3.98 per kwh, down 13 per cent year-on-year, due to a combination of factors including lower demand due to festive season, temperature drop and much improved sell side liquidity on the IEX platform.
Price on the exchange has been experiencing a downward trend and average monthly price is currently at its lowest levels this financial year, offering an opportunity for Discoms and industrial consumers to optimize their power procurement costs, the release said.
REC and ESCert
A total of 7.55 lakh RECs (equivalent to 755 MU) were traded in the trading sessions held on November 8, 2023 and November 29, 2023, at a clearing price of Rs.375 per REC for both the sessions. REC cleared volume in November 2023 increased by 103 per cent on year-on-year basis.
The next REC trading sessions on IEX are scheduled to be held on December 13, 2023 and December 27, 2023.
Trading of ESCerts for PAT Cycle-II officially concluded on October 30, 2023, with a total coverage of 544 designated consumers and 40 successful trading sessions. A total of 13.2 lakh ESCerts were traded on IEX in PAT Cycle-ll.
Also read: IEX Achieves 18 Per Cent Volume Growth In October 2023
