Indian Energy Exchange: IEX shares Q4 update, says volume up 15.7%; stock in focus
IEX said its Q4 volume comprised 25.9 BU from the conventional power market segment, 1 BU from the green market segment and 32.48 lakh Renewable Energy Certificates (RECs) (equivalent to 3.2 BU).
- Apr 4, 2024,
- Updated Apr 4, 2024 8:49 AM IST
Electricity exchange Indian Energy Exchange on Thursday said it achieved 30.1 BU in volumes across all segments, registering an increase of 15.7 per cent on yearly basis. The volume comprised 25.9 BU from the conventional power market segment, 1 BU from the green market segment and 32.48 lakh Renewable Energy Certificates (RECs) (equivalent to 3.2 BU).
The REC traded volume in the March quarter increased 98 per cent on YoY basis while the DAM prices on the exchange fell to Rs 4.89 per unit in the March quarter from Rs 6.08 per unit in the year-ago quarter, down 20 per cent YoY.
For the month of March, IEX achieved 9.8 BU overall volume, marking a 6.2 per cent year-over-year increase. The Market Clearing Price in Day Ahead Market during March was Rs 3.91 per unit, down 28 per cent year-on-year, due to increased sell quantum. The sell bids on the exchange (Day Ahead Market plus Real Time Market) during the month increased 37 per cent on YoY basis.
"The fiscal year 2024 witnessed several favourable policy and regulatory interventions that further deepened power markets. Notable among these were the General Network Access (GNA) regulation, the Indian Electricity Grid Code (IEGC) regulations, and Transmission Charges Sharing regulations. Further there were amendments in the Electricity Late Payment Surcharge Rules of 2024, which requires the sale of URS power on exchanges," IEX noted.
According to government data, for the year, the energy requirement at 1,626 BU grew 7.5 per cent YoY in 2023-24.
IEX said it has achieved 110 BU in FY’24, registering an increase of 13.8 per cent on YoY basis. Electricity volumes at 101.7BU increased 12 per cent YoY. Additionally, 75.39 lac RECs (equivalent to 7,539 MU) were traded during FY’24. REC traded volume in FY24 increased 26 per cent on YoY basis.
The government undertook several measures which led to a better supply scenario in the country, as a result of which the sell side liquidity improved on the exchange. During the year, the sell liquidity on the exchange increased 16.9 per cent YoY, which led to a 12 per cent YoY decline in the DAM prices to Rs 5.24 per unit in FY24 from Rs 5.94 per unit in FY23.
Electricity exchange Indian Energy Exchange on Thursday said it achieved 30.1 BU in volumes across all segments, registering an increase of 15.7 per cent on yearly basis. The volume comprised 25.9 BU from the conventional power market segment, 1 BU from the green market segment and 32.48 lakh Renewable Energy Certificates (RECs) (equivalent to 3.2 BU).
The REC traded volume in the March quarter increased 98 per cent on YoY basis while the DAM prices on the exchange fell to Rs 4.89 per unit in the March quarter from Rs 6.08 per unit in the year-ago quarter, down 20 per cent YoY.
For the month of March, IEX achieved 9.8 BU overall volume, marking a 6.2 per cent year-over-year increase. The Market Clearing Price in Day Ahead Market during March was Rs 3.91 per unit, down 28 per cent year-on-year, due to increased sell quantum. The sell bids on the exchange (Day Ahead Market plus Real Time Market) during the month increased 37 per cent on YoY basis.
"The fiscal year 2024 witnessed several favourable policy and regulatory interventions that further deepened power markets. Notable among these were the General Network Access (GNA) regulation, the Indian Electricity Grid Code (IEGC) regulations, and Transmission Charges Sharing regulations. Further there were amendments in the Electricity Late Payment Surcharge Rules of 2024, which requires the sale of URS power on exchanges," IEX noted.
According to government data, for the year, the energy requirement at 1,626 BU grew 7.5 per cent YoY in 2023-24.
IEX said it has achieved 110 BU in FY’24, registering an increase of 13.8 per cent on YoY basis. Electricity volumes at 101.7BU increased 12 per cent YoY. Additionally, 75.39 lac RECs (equivalent to 7,539 MU) were traded during FY’24. REC traded volume in FY24 increased 26 per cent on YoY basis.
The government undertook several measures which led to a better supply scenario in the country, as a result of which the sell side liquidity improved on the exchange. During the year, the sell liquidity on the exchange increased 16.9 per cent YoY, which led to a 12 per cent YoY decline in the DAM prices to Rs 5.24 per unit in FY24 from Rs 5.94 per unit in FY23.