The Indian Energy Exchange (IEX) witnessed a substantial surge in its total electricity volume in August 2023, marking a 21 per cent year-on-year increase. IEX informed bourses that it recorded an overall trade volume of 8,865 million units (MU) in August, a 13 per cent rise year-on-year compared to the same month a year ago.

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This surge in trade volume was largely attributed to the extraordinary weather conditions experienced across the country in August.

The overall trade volume included 242.3 MU traded in the green market, 40 MU in the ancillary market, 2.53 lakh Renewable Energy Certificates (RECs) equivalent to 253 MU and 1.03 lakh Energy Savings Certificates (ESCerts) equivalent to 103 MU, IEX said in its monthly updates for August.

Rise in Day-Ahead Market (DAM) volume  

Due to the combination of heightened demand and supply constraints, electricity prices on IEX during August reached Rs 6.89 per unit, reflecting a significant 33 per cent YoY increase. The Day-Ahead Market (DAM) volume also witnessed growth, increasing to 3,810 MU in August 2023, up 7.3 per cent from 3,551 MU in corresponding month last year.  

The average market clearing price for electricity stood at Rs 6.89 per unit in August, a substantial 33 per cent increase compared to the same month the previous year. Further, the Real-Time Electricity Market (RTM) achieved a remarkable 2,738 MU in August this year, marking a substantial 21 per cent year-on-year growth.

The Term-Ahead Market (TAM) and the Day Ahead Contingency Market (DAC) recorded a significant 131.5 percent YoY increase, trading 1,673 MU during August 2023.

Shares of IEX were trading almost flat at Rs 137, down 0.04 per cent, on BSE at 12:44 PM on Tuesday.