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IEX reports a 24.7% YoY increase in June 2024, with 10,185 MU electricity volume. The Q1 of FY25 achieves 19% growth, totaling 28,178 MU. In June 2024, India's energy consumption reached 152.4 billion units (BU), representing an 8.9% YoY increase.
The Indian Energy Exchange (IEX) reported an electricity volume of 10,185 million units (MU) for June 2024, marking a notable 24.7% increase compared to the same month last year.
For Q1 of FY25, IEX achieved an electricity volume of 28,178 MU, an increase of 19% YoY. Including certificates, the total quarterly volume reached 30,354 MU, up 20.8% from Q1FY24.
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In June 2024, India's energy consumption reached 152.4 billion units (BU), representing an 8.9% YoY increase.
The hot weather conditions during Q1FY25 led to a surge in electricity demand, with national energy consumption hitting 452 BUs, up 11.2% compared to Q1FY24.
The country's peak demand reached a record 250 gigawatts (GW), surpassing the previous high of 243 GW recorded in September of the previous year.
Proactive measures by the government and regulators, including selling surplus un-requisitioned power on exchanges, increasing fuel supply, and ensuring higher availability of generating units, helped maintain sell liquidity on exchanges.
This kept prices under control, with the market clearing price in the Day-Ahead Market (DAM) in June 2024 at ₹5.40 per unit, similar to last year, but over 20% lower compared to bilateral contract prices.
The IEX Green Market, including the Green Day-Ahead and Green Term-Ahead segments, saw significant growth, with a volume of 744 MU in June 2024, a 173.4% YoY increase.
The Green Day-Ahead Market (G-DAM) achieved 680 MU in June 2024 at an average price of ₹4.14 per unit, a 309.5% YoY increase.
The Green Term-Ahead Market (G-TAM) achieved 64 MU in June 2024, with a Non-Solar average monthly price of ₹8.88 per unit.
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