Indian Energy Exchange inched up 1% on Wednesday after the company released its market update for October.
What Happened: IEX has reported a 4% year-on-year increase in electricity traded volume for October, which reached 9,642 million units. The company traded 4.44 lakh renewable energy certificates during the month, marking a 105% year-on-year growth, according to a company press release.
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Government data released in October indicates that the country's energy consumption reached 140.4 billion units, marking a modest 1% increase compared to the previous year.
The market clearing price in the day-ahead market (DAM) stood at ₹3.92 per unit in October 2024 — a 39% decrease from the same period last year. Similarly, the market clearing price in the real-time market (RTM) was ₹3.77 per unit, reflecting a 38% drop from a year ago.
In terms of traded volumes, the DAM recorded 4,388 million units in October 2024, a 7% decline from 4,742 million units. On the other hand, the RTM saw a notable increase, with a volume of 3,123 million units in October, up 30% from 2,402 million units.
Price Action: IEX shares jumped 1.68% to ₹176.06 during Wednesday’s early trade.
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