The electricity volume increased 21% year-on-year to 10,332 MU in September, an IEX statement said on Monday.
According to the statement, IEX achieved total monthly (trade) volume (including certificates) of 11,370 MU in September 2024, marking a 24 per cent year-over-year increase.
The Renewable Energy Certificates (REC) at 1,031 MU, increased 100 per cent year-on-year. At ₹110 per certificate, the REC market recorded an all-time low price in the trading session held on September 25, 2024.
These prices provide an opportunity to obligated entities (DISCOMS and Captive Power Producers) to meet their Renewable Purchase Obligations, and voluntary customers to meet their sustainability aspirations.
With a steady monsoon in September, there was a significant rise in hydro and wind power generation, which led to a substantial drop in Day-Ahead Market (DAM) and Real-Time Market (RTM) prices, resulting in higher trading volumes during the month, IEX said.The Market Clearing Price in the Day Ahead Market at ₹4.18/unit during September 2024, declined 33% year-on-year.Similarly, the Market clearing price in the Real Time Market at ₹3.98/unit during September 2024, declined 28%year-on-year.
