Indian Energy Exchange Sees 25% Growth in June 2024 Electricity Volume

The Indian Energy Exchange (IEX) reported a significant 25% increase in electricity volume for June 2024 compared to the same month last year, according to a recent media release.

Details: On Tuesday, IEX announced that it achieved an electricity volume of 10,185 million units in June 2024, marking a 24.7% rise from the previous year. Including certificates, the total monthly volume reached 10,677 million units, reflecting a 19.4% year-on-year growth.

In the first quarter of the fiscal year 2025, IEX recorded an electricity volume of 28,178 million units, showing a 19% increase from the same period last year. The total volume for the quarter, including certificates, was 30,354 million units, up 20.8% from the first quarter of fiscal year 2023. During this period, the country’s peak electricity demand hit 250 gigawatts, surpassing the previous record of 243 gigawatts set in September of the previous year.

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The surge in electricity demand was attributed to hot weather conditions during the first quarter of the financial year. Despite the increased consumption, the market clearing price in the Day Ahead Market for June 2024 remained at Rs. 5.40 per unit, consistent with the price from the previous year.

The green market also saw substantial growth, with a 173.4% increase in volume in June 2024 compared to the previous year. The Day-Ahead Market (DAM) volume grew by 18.2% year-on-year, while the Real-Time Electricity Market (RTM) volume increased by 20.1% year-on-year.

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