Energy trade volume grows nearly 14% to hit all-time hight of 110 billion units in FY'24: IEX

New Delhi: Energy trading platform Indian Energy Exchange (IEX) on Thursday said it has logged the highest-ever trade volume of 110 billion units (BU) in the fiscal year 2023-24, registering a growth of nearly 14 percent year-on-year.

The total trade volume has crossed the 100 BU-mark for the first time in FY'24, the exchange said.

IEX achieved 110 BU total trade volume in FY'24, registering an increase of 13.8 percent on a Y-o-Y basis, according to a statement.

Giving segment-wise break-up, it said that 75.39 lakh RECs (Renewable Energy Certificates), equivalent to 7,539 million units, were traded during FY'24, registering an increase of 26 percent year-on-year.

The government undertook several measures which led to a better supply scenario in the country, as a result of which the sell side liquidity improved on the exchange, it said.

During the year, the sell liquidity on the exchange increased by 16.9 percent Y-o-Y, which led to a decline in the DAM (day ahead market) prices by 12 percent from Rs 5.94 per unit in FY'23 to Rs 5.24 per unit in FY'24.

During the fourth quarter of FY'24 (January-March), IEX achieved 30.1 BU volume across all segments, registering an increase of 15.7 percent annually.

The total volume comprises 25.9 BU from the conventional power market segment, 1 BU from the green market segment, and 32.48 lakh RECs (3.2 BU).

The REC traded volume in the fourth quarter of FY24 increased by 98 percent from the year-ago period.

The DAM prices on the exchange reduced by 20 percent from Rs 6.08 per unit in fourth quarter of FY23 to Rs 4.89 per unit in the Q4 of FY24.

The overall volume reached 9.8 BU in March alone, registering a Y-o-Y growth of 6.2 percent, IEX said.

The clearing price in the day ahead market in March was Rs 3.91 per unit, down approximately 28 percent, due to increased sell quantum.

The DAM volume was at 4,653 MU (million units) in March FY24, as compared to 4,745 MU in March FY23.

During the last quarter of FY24, the DAM volume stood at 14,916 MU against 14,301 MU in the corresponding period of previous fiscal, up 4.3 percent YoY.

During the entire financial year, the DAM volume reached 53,353 MU, up 4.3 percent from 51,151 MU in FY'23.

Real-time market (RTM) volume also increased 32.8 percent to 2,786 MU in March FY'24 from 2,098 MU in March FY'23. The figure was 7,505 MU during the fourth quarter of FY'24, nearly 27 percent higher than 5,914 MU a year ago.

The segment achieved 30,125 MU of trade volume during the entire financial year, up 34.6 percent against 24,174 MU in FY'23.

The Green Day Ahead Market (GDAM) achieved the volume of 885 MU during fourth quarter of FY'24 and 2,502 MU during FY'24.

The Green Term Ahead Market (GTAM) volume stood at 75 MU in the fourth quarter of FY'24 and 725 MU during the entire fiscal.

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