IEX Energy Trade Volume Up 15.4% in February

New Delhi, Mar 5 (PTI) Indian Energy Exchange (IEX) on Monday posted a 15.4 per cent growth in overall energy trade volume to 9,462 million units (MU) in February compared to that of the year-ago period.

The average market clearing price of energy in the day ahead market during February 2024 was Rs 4.93 per unit, nearly 26 per cent lower year-on-year due to increased sell liquidity, an IEX statement said.

The sell bids on the exchange (day ahead market plus real time market) during the month increased by 47 per cent annually.

According to the statement, IEX achieved 9,462 MU overall trade volume in February 2024, marking a 15.4 per cent year-over-year increase.

The Day-Ahead Market (DAM) volume was at 4,722 MU last month as compared to 4,664 MU in the corresponding month of the previous year.

The Real-Time Electricity Market (RTM) volume also increased to 2,340 MU in February this year as compared to 1,714 MU in February 2023, up 36.5 per cent YoY.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily, weekly and monthly contracts up to three months, saw the total trade of 1,487 MU during February this year, 55.9 per cent higher year on year.

IEX Green Market, comprising Green Day-Ahead and Green Term-Ahead Market segments, achieved 298 MU volume during February 2024.

The Green Day-Ahead Market (G-DAM) achieved 266 MU volume during the month, with a weighted average price of Rs 5.5 per unit. The segment saw participation from 214 market participants during the month.

The Green Term-Ahead Market (G-TAM) achieved 32 MU volume in February 2024.

A total of 6.14 lakh Renewable Energy Certificates (RECs equivalent to 614 MU) were traded on 14th February and 28th February 2024 at an average clearing price of Rs 360/REC and Rs 347/REC, respectively.