Green Electricity Volume Records 259% YoY Growth, Tops 1 Bn Units In July 2024

New Delhi, Aug 5 (KNN) The Indian Energy Exchange (IEX), India's leading electricity trading platform, has announced unprecedented trading volumes for July 2024, with significant growth across multiple segments.

IEX reported a total trading volume of 13,250 million units (MU) in July 2024, including certificates, marking a 56 per cent increase compared to the same period last year. Electricity volume alone reached 10,093 MU, up 29 per cent year-over-year (YoY).

The exchange's green electricity volume experienced remarkable growth, reaching 1 billion units (BU) in July, a 259 per cent increase YoY.

The Green Market, comprising Green Day-Ahead and Green Term-Ahead segments, achieved 989.6 MU, up from 275.4 MU in July 2023.

Trading in Renewable Energy Certificates (RECs) saw a dramatic rise, with volumes increasing 405 per cent YoY to 3,150 MU.

The REC market recorded an all-time low price of Rs. 120 per certificate on July 31, 2024, potentially benefiting obligated entities and voluntary customers seeking to meet sustainability goals.

The Day-Ahead Market volume grew 27 per cent YoY to 5,056 MU, while the Real-Time Electricity Market volume increased 31 per cent YoY to 3,334 MU. The Day Ahead Contingency and Term-Ahead Market traded 712 MU during the month.

According to government data, India's overall energy consumption reached 145.4 BUs in July 2024, representing a 4 per cent YoY increase.

The exchange also facilitated the trading of 7,000 Energy Saving Certificates (ESCerts) at the floor price of Rs. 2,165 per certificate.

These figures reflect significant growth in India's electricity trading market, with notable increases in renewable energy and green power segments.

The data suggests a continuing trend towards increased power trading and a growing emphasis on sustainable energy sources in the Indian market.

(KNN Bureau)