Indian Energy Exchange (IEx), India’s premier 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 the 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.
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.
