IEX gains after electricity volume increase 4% YoY to 9,642 MU in Oct'24

Indian Energy Exchange (IEX) rose 1.50% to Rs 175.65 after the company informed that it has achieved electricity volume of 9,642 million units (MU) in October 2024, registering a growth of 4% YoY basis.

During the month, the company has traded 4.44 lakh renewable energy certificates recording a 105% year on year increase.

According to government data published in October 2024, the country's energy consumption reached 140.4 billion units, marginal increase of 1% compared to the previous year.

The Day-Ahead Market (DAM) volume decreased to 4,388 MU in October 2024 as compared to 4,742 MU in October 2023, registering an declined of 7%.

 

The Real-Time Electricity Market (RTM) volume increased 30% YoY to 3,123 MU in October 2024.

The Day Ahead Contingency and Term-Ahead Market (TAM), which includes contingency, daily, weekly, and monthly contracts up to three months, traded 1,260 million units (MU) in October 2024. This represents a 34% year-on-year decline compared to the 1,911 MU traded in October 2023.

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 872 MU volumes during October 2024 as compared to 188 MU in October 2023, registering an increase of 364% YoY.

The Green Day-Ahead Market (G-DAM) achieved 829 MU volume during October 2024 with a weighted average price of Rs 3.60 per unit, as compared to 181 MU in October 2023, registering an increase of 358% YoY.

The Green Term-Ahead Market (G-TAM) recorded a volume of 43 million units (MU) in October 2024, with average monthly prices of Rs 3.49 per unit for Solar, Rs 8.02 per unit for Non-Solar and Rs 5.03 per unit for Hydro. This represents a 498% year-on-year growth compared to the 7 MU traded in October 2023.

A total of 4.44 lakh renewable energy certificate (RECs), were traded in the trading sessions held on 09th October24 and 30th October24, at a clearing price of Rs 110/REC and Rs 120/REC respectively.

The next REC trading sessions at the Exchange are scheduled on 13th November 2024 and 27th November 2024.

IEX is India's premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.

The companys consolidated net profit jumped 27.2% to Rs 96.44 crore on 18.8% increase in revenue from operations to Rs 123.56 crore in Q1 FY25 over Q1 FY24.

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