Indian Energy Exchange achieved 8,469 MU total electricity volume in August 2023, registering an increase of 21% on YoY basis. IEX attained 8,865 MU overall volume, including green market trade of 242.3 MU, ancillary market trade of 40MU, 2.53 Lac RECs (equivalent to 253 MU) and 1.03 Lac ESCerts (equivalent to 103 MU). The overall volume traded during the month increased to 13.3% on YoY basis.

In August 2023, 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 August 31, 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.

ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET

The Day-Ahead Market (DAM) volume increased to 3,810 MU in August '23, from 3,551 MU in August '22, 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 ‘23, registering an increase of 21% YoY. It is noteworthy to mention that IEX achieved the highest ever single day volume of 135.28 MUs in RTM on August 24, 2023.

The RTM segment enables distribution utilities and industries with greater flexibility and efficient optimisation of portfolios by balancing their power demand-supply on a real-time basis.

The Term-Ahead Market (TAM) and the Day Ahead Contingency Market (DAC), comprising intra-day, contingency, daily & weekly contracts, and contracts up to 3 months, traded 1,673 MU during August ‘23, higher by 131.5% on YoY basis.

GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 242.3 MU volume during August'23

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 ‘23, 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.

RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)

A total of 2.53 lac RECs (equivalent to 253 MU) were cleared in the trading session at IEX held on Wednesday, 30h August, at the price of Rs. 575/REC.

The next REC trading session at the Exchange is scheduled on 27 September 2023.

ENERGY SAVING CERTIFICATES (ESCerts)

During August '23, 1.03 lakh ESCerts (equivalent to 103 MU) were traded on IEX, at the floor price of Rs. 1,840 per ESCert.