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					</table><p>The Indian Energy Exchange (<a href="https://www.iexindia.com/" target="_blank" rel="noopener">IEX</a>) traded 298 million units (MU) of green energy during February 2024, a 12.61% year-over-year (YoY) drop from 341 MU.</p>
<p>The green energy trade was up by 26.27% from 236 MU <a href="https://www.mercomindia.com/iex-renewable-energy-certificates-january" target="_blank" rel="noopener">traded</a> in January 2024.</p>
<p>The Green Day-Ahead Market (G-DAM) achieved 266 MU, up by 6.4% YoY and 26.67% month-over-month (MoM). The weighted average price discovered in the segment was ₹5.5 (~$0.066)/kWh, with participation from 214 market entities during the month.</p>
<p>The Green Term-Ahead Market (G-TAM) traded 32 MU in February, down by 64.84% YoY and up by 23.08% MoM.</p>
<p>During the two Renewable Energy Certificate (REC) trading sessions on February 14 and 28, the Exchange traded a total of 614,000 RECs, equivalent to 614 MU, a 64.17% YoY increase and a 59.61% MoM decline. January 2024 witnessed the highest volume of RECs traded in the current financial year at 1.52 million RECs.</p>
<p>The clearing prices achieved during the two sessions were ₹360 (~$4.35)/REC and ₹347 (~$4.19)/REC.</p>
<p>The power exchanges have started scheduling two REC trading sessions every month, following the Central Electricity Regulatory Commission’s <a href="https://www.mercomindia.com/cerc-allows-fortnightly-trading-rec" target="_blank" rel="noopener">order</a> in October 2023, to implement it on an experimental basis and enhance the REC trading volume.</p>
<p>The next REC trading sessions are scheduled for March 13 and March 27, 2024.</p>
<p>The Exchange achieved an overall trade volume of 9,462 MUs in February, a 15.4% YoY increase.</p>
<p>The country’s energy consumption reached 127.8 BUs, increasing 8.5% YoY, according to the company statement. The recent Ministry of Power amendments to the electricity late payment surcharge rules 2024 <a href="https://www.mercomindia.com/ministry-to-regulate-discoms-failing-to-clear-dues" target="_blank" rel="noopener">mandate</a> the sale of un-requisitioned surplus power on exchanges, failing which the generating companies will receive reduced fixed charges as a penalty. The amendments are expected to improve the sell-side liquidity on the Exchange and provide competitive price discovery.</p>
<p>The Day-Ahead Market (DAM) segment achieved a volume of 4,722 MU in February 2024, as compared to 4,664 MU a year ago. The Market Clearing Price in DAM during the month was ₹4.93 (~$0.060)/kWh, down approximately 26% year-on-year, due to increased sell liquidity.</p>
<p>The Real-Time Electricity Market (RTM) volume surged by 36.5% to 2,340 MU from 1,714 MU during the same month last year.</p>
<p>The sell bids on the exchange Day Ahead Market plus Real-Time Market during the month increased by 47% YoY.</p>
<p>The Day-Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily &amp; weekly, and monthly contracts up to three months, traded 1,487 MU during the month, higher by 55.9% YoY.</p>
<p>In a recent suo motu order, the CERC <a href="https://www.mercomindia.com/no-manual-bids-strict-trading-hours-cerc-power-exchanges" target="_blank" rel="noopener">ordered</a> a comprehensive audit of all three power exchanges in the next six months and the elimination of manual entries of bids and cancellation/modification of bids outside of trading hours, citing multiple violations.</p>


IEX Trades 298 MU Green Energy in February, REC Volume Falls 60% MoM

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