IEX rises on reporting 25% growth in total electricity volume in June 2024
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Indian Energy Exchange is currently trading at Rs. 186.30, up by 1.30 points or 0.70% from its previous closing of Rs. 185.00 on the BSE.
The scrip opened at Rs. 189.65 and has touched a high and low of Rs. 189.80 and Rs. 185.75 respectively. So far 529371 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 191.30 on 02-Jul-2024 and a 52 week low of Rs. 119.00 on 27-Jul-2023.
Last one week high and low of the scrip stood at Rs. 191.30 and Rs. 177.55 respectively. The current market cap of the company is Rs. 16603.32 crore.
The Institutions and Non-Institutions held 38.15% and 61.86% stake in the company respectively.
Indian Energy Exchange (IEX) has achieved electricity volume of 10,185 million units (MU), in June 2024, marking a 24.7% year on year increase. The total monthly volume including certificates at 10,677 MU, increased 19.4% on year-on-year (Y-o-Y) basis.
For the first quarter of the fiscal year 2025, IEX achieved electricity volume of 28,178 MU, an increase of 19% YoY basis. Total volume for the quarter including certificates was at 30,354 MU, up 20.8% from Q1FY24. According to government data published in June 2024, the country's energy consumption reached 152.4 BUs, representing 8.9% increase year-on-year.
Hot weather conditions led to an unprecedented surge in electricity demand during the first quarter of this financial year. The country's energy consumption of 452 BUs in Q1FY25 was 11.2% higher compared to Q1FY24. During the quarter, the country's peak demand reached 250 GW, surpassing the previous high of 243 GW recorded in September last year. Proactive measures taken by the government and the regulators, including the sale of surplus un-requisitioned power on power exchanges, increased fuel supply and ensuring higher availability of generating units led to an increased sell liquidity on the exchanges which kept the prices under control on exchanges. Therefore, despite the increase in the electricity consumption, the market clearing price in Day Ahead Market during June 2024 was Rs 5.40/unit, similar as last year, however it was lower by more than 20% as compared to prices discovered under bilateral contracts.
The Day-Ahead Market (DAM) volume increased to 4,849 MU in June 2024, from 4,103 MU in June 2023, registering an increase of 18.2 % YoY. The DAM segment registered total volumes of 13,336 MU during Q1FY25, a marginal increase of 6.7% over Q1FY24.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 744 MU volume during June 2024 as compared to 272 MU in June 2023, registering an increase of 173.4% YoY. During Q1FY25, the segment achieved volume of 1,768 MU, growth of 94.3% over Q1FY24.
IEX is India’s premier energy exchange providing a nationwide, automated trading platform for physical delivery of electricity, renewable energy and certificates including renewable energy certificates as well as the energy saving certificates.
