Power trading exchange Indian Energy Exchange released its market update for the month of October on Tuesday after markets closed.

What Happened: IEX has reported a 4% year-on-year rise in electricity traded volume for October 2024 to 9,642 million units. During the month, IEX traded 4.44 lakh renewable energy certificates, recording a 105% year-on-year increase, the company said in a press release.

Government data released in October 2024 shows that the country’s energy consumption reached 140.4 billion units, a slight increase of 1% compared to the previous year. The market clearing price in the Day-Ahead Market (DAM) was ₹3.92 per unit in October 2024, down 39% from the previous year. Similarly, the market clearing price in the Real-Time Market (RTM) was ₹3.77 per unit, a 38% decline year-on-year.

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In October 2024, the DAM recorded a volume of 4,388 million units, down 7% from 4,742 million units in October 2023. The RTM saw a significant increase, with a volume of 3,123 million units in October 2024, up 30% from 2,402 million units in October 2023.

The Day-Ahead Contingency and Term-Ahead Market (TAM), which includes contingency, daily, weekly, and monthly contracts up to three months, traded 1,260 million units in October 2024, a 34% decline from 1,911 MU in October 2023.

The IEX Green Market, which includes the Green Day-Ahead and Green Term-Ahead Market segments, saw a volume of 872 million units in October 2024, a 364% increase compared to 188 million units in October 2023.

Price Action: IEX shares closed flat at ₹173.15 on Tuesday.

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