The power exchange said that the country experienced its lowest August rainfall since 1901, resulting in hot weather conditions. This, in turn, led to an unprecedented surge in electricity demand for the month.

According to data published by Grid-India, the country's electricity consumption was recorded at 152 BU in August 2023, an increase of 16% year-on-year. Notably, on 31 August 2023, the country witnessed an all-time high peak demand of 236 GW along with the highest ever single day energy consumption of 5126 MU. Due to the combination of higher demand and supply constraints, prices on the Indian Energy Exchange (IEX) during the month reached Rs 6.89/unit, marking a 33% year-on-year increase.

The Day-Ahead Market (DAM) volume increased to 3,810 MU in August 2023, from 3,551 MU in August 2022, growing 7.3% YoY. The average market clearing price was Rs. 6.89/ unit during the month, up by 33% over the corresponding month last year.

The Real-Time Electricity Market (RTM) achieved 2,738 MU in August 2023, registering an increase of 21% YoY.

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 242.3 MU volume during August 2023.

The Green Day-Ahead Market (G-DAM) achieved 159.7 MU volume during the month, with a weighted average price of Rs 7.16 per unit. The segment saw participation from 193 market participants during the month.

The Green Term-Ahead Market (G-TAM) achieved 82.6 MU volume in August 2023, with average monthly price of Solar- Rs 5.25/unit and for Non-Solar- Rs 6.96/unit and for Hydro- Rs 8.80/unit.

A total of 2.53 lakh RECs (equivalent to 253 MU) were cleared in the trading session at IEX held on Wednesday, 30 August, at the price of Rs. 575/REC. The next REC trading session at the Exchange is scheduled on Wednesday, 27th September 2023.

During August 2023, 1.03 lakh ESCerts (equivalent to 103 MU) were traded on IEX, at the floor price of Rs. 1,840 per ESCert.

IEX is India's premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates.

The company's consolidated net profit increased 9.7% to Rs 75.83 crore on 5.8% jump in net sales to Rs 104.04 crore in Q1 FY24 over Q1 FY23.

The scrip rose 0.88% to Rs 138.25 on the BSE.