The Indian Energy Exchange (IEX) experienced a 25% year-on-year surge in electricity volume for June 2024, as per a media release.

What Happened: IEX disclosed on Tuesday that it reached an electricity volume of 10,185 million units in June 2024, indicating a 24.7% year-on-year surge. The total monthly volume, inclusive of certificates, escalated to 10,677 million units, a 19.4% increase on a year-on-year basis.

For the first quarter of the fiscal year 2025, IEX recorded an electricity volume of 28,178 million units, a 19% YoY surge. The total volume for the quarter, inclusive of certificates, amounted to 30,354 million units, up 20.8% from Q1FY23. During the quarter, the country’s peak demand reached 250 gigawatts, surpassing the previous high of 243 gigawatts recorded in September last year

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The energy exchange credited the spike in electricity demand to hot weather conditions during the first quarter of this financial year. Despite the rise in electricity consumption, the market clearing price in the Day Ahead Market during June ’24 was Rs. 5.40/unit, similar to the previous year.

The green market also witnessed significant growth, with a 173.4% YoY surge in volume during June ’24. The Day-Ahead Market (DAM) volume escalated by 18.2% YoY, while the Real-Time Electricity Market (RTM) volume rose by 20.1% YoY.

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