IEX total trade volume up 18% to 9,136 mn units in Nov

New Delhi: The Indian Energy Exchange (IEX) on Monday posted 17.5 per cent growth in its overall trade volume to 9,136 million units (MU) in November 2023 as compared to the year-ago period.

The exchange had recorded total trade volume of 7,764 MU in November 2022, as per IEX data.

“IEX achieved 9,136 MU overall volume, including 7.55 lakh Renewable Energy Certificates (RECs) (equivalent to 755 MU), marking a 17.5 per cent increase on yoy (year-on-year) basis,” an IEX statement said.

IEX achieved 8,371 MU total electricity volume in November 2023, registering an increase of 13 per cent on year-on-year basis.

Market clearing price in Day Ahead Market (DAM) during November 2023 was Rs 3.98 per unit, down 13 per cent year-on-year, due to various factors including lower demand owing to festive season, temperature drop and improved sell side liquidity on the exchange, it stated.

Price on the exchange has been experiencing a downward trend and the average monthly price is at its lowest level this financial year, offering an opportunity for discoms and industrial consumers to optimize their power procurement costs, it explained.

The DAM volume was at 5,144 MU in November 2023, as compared to 5,087 MU in November 2022.