IEX trade volume rises over 13% to 8,865 million units in August

Indian Energy Exchange's total trade volume rose by over 13 per cent year on year to 8,865 million units in August. The total trade volume of IEX stood at 7,805 million units (MU) as per its data.

"IEX attained 8,865 MU overall volume, including green market trade of 242.3 MU, ancillary market trade of 40MU, 2.53 lakh RECs (equivalent to 253 MU) and 1.03 lakh ESCerts (equivalent to 103 MU)," an IEX statement said.

The overall volume traded during the month increased to 13.3 per cent on YoY (year on year) basis. IEX achieved 8,469 MU total electricity volume in August 2023, registering an increase of 21 per cent on YoY basis, the statement said.

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 during the month, it explained.

Due to the combination of higher demand and supply constraints, prices on IEX during the month reached Rs 6.89/unit, marking a 33 per cent year-on-year increase, it stated. The Day-Ahead Market (DAM) volume increased to 3,810 MU in August 2023, from 3,551 MU in August 2022, growing 7.3 pe cent YoY.

The average market clearing price was Rs 6.89/unit during the month, up by 33 per cent over the corresponding month last year. The Real-Time Electricity Market (RTM) achieved 2,738 MU in August this year, registering an increase of 21 per cent YoY.

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 2023, higher by 131.5 per cent YoY.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.