Power trading platform Indian Energy Exchange (IEX) achieved 8,946 million units (MU) overall volume in the June quarter (Q1) of fiscal FY24, including green market trade of 272 MU, 5.33 lakh RECs (equivalent to 533 MU) and 2.44 lakh ESCerts (equivalent to 244 MU). The overall volume during the month was higher by 8 percent on a year-on-year (YoY) basis.

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The country's premier energy exchange achieved 25,125 MU volume across all segments during the June quarter, a grow of 8 percent over the same period a year ago, IEX said in a BSE filing on Wednesday.

The average market clearing price during the quarter under review was Rs 5.17 per unit, a decline of 33 percent from Rs 5.37 per unit of the corresponding quarter of last fiscal.

The supply side scenario during the first quarter improved due to enhanced coal supply, reduction in e-auction coal prices, and consistently declining imported coal and gas prices, the company said.

However, an increase in liquidity on the exchange led to a sharp correction in prices, resulting in optimisation opportunities and higher clearance for Discoms and open access consumers, IEX added.

Electricity Market

The Day-Ahead Market (DAM) volume increased to 4,103 MU in June 2023 from 4,065 MU in June 2022, a growth of 1 percent YoY. The DAM segment registered 12,501 MU during the first quarter, up 11 percent YoY due to improved prices.

The Real-Time Electricity Market (RTM) achieved its highest-ever monthly volume of 2,675 MU during June 2023, registering a growth of 21 percent YoY. There were 765 participants in this segment during the month.

The RTM segment has registered a volume of 7,252 MU during Q1FY24, increasing 16 percent YoY. The consistent growth of RTM segment reflects its increasing acceptance among distribution utilities and industries to efficiently manage their power demand-supply on a real-time basis, IEX said.

The Term-Ahead Market (TAM), comprising intra-day, contingency, daily and weekly contracts, and contracts up to three months, traded 1,118 MU during June 2023, higher by 47 percent on a YoY basis. The total volume on the segment during the quarter was 3,017 MU, a marginal decline of 3 percent over the corresponding period of last year.

Green Market

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 272 MU volume during June 2023 as against 540 MU achieved in June 2022. The segment achieved 910 MU during Q1 FY24.

During June 2023, Green Day-Ahead Market (G-DAM) achieved 166 MU volume with a weighted average price of Rs 4.95 per unit. The market saw participation from 177 market participants during the month. During Q1 FY24, the segment achieved 524 MU.

The Green Term-Ahead Market (G-TAM) achieved 106 MU volume in June 2023, with average monthly price for Solar at Rs 3.24 per unit, for non-Solar at Rs 5.76 per unit and for Hydro at Rs 6.28 per unit. The G-TAM segment achieved 386 MU during Q1 of FY24, the company said.

Shares of IEX settled 1.04 percent higher at Rs 125.95 apiece on the NSE in trade Wednesday. The stock tumbled 11.46 percent on a year-to-date basis and 21.13 percent in the last one year.