Mumbai: India’s electricity market saw a sharp shift toward short-term power procurement in November, with the Real-Time Market (RTM) volume rising 40.2 percent year-on-year to 4,233 MU, said a statement by the Indian Energy Exchange (IEX) on Wednesday.
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The increase in RTM activity highlights the growing reliance of buyers, including Discoms and commercial and industrial consumers, on real-time electricity trading. At the same time, the average RTM price fell 9.2 percent YoY to Rs 3.14 per unit, while the Day-Ahead Market (DAM) price declined 6.9 percent YoY to Rs 3.07 per unit.
IEX reported a total monthly electricity traded volume of 11,409 MU, up 17.7 percent YoY, driven by enhanced hydro, wind, and solar generation that increased supply liquidity on the exchange.
The Day-Ahead Market recorded a marginal rise in volume to 5,668 MU, up 0.3 percent YoY, while the Term-Ahead Market (TAM) surged 243.1 percent YoY to 693 MU, showing a strong uptake in forward contracts ranging from daily to three-month periods.
The IEX Green Market, which includes Green Day-Ahead and Green Term-Ahead segments, traded 815 MU in November, slightly lower than last year’s 818 MU. Meanwhile, the Renewable Energy Certificate (REC) market saw 4.74 lakh certificates traded at clearing prices of Rs 370 and Rs 364 per REC, a decline of 13.1 percent YoY.
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Lower market prices presented an opportunity for Discoms and industrial consumers to meet electricity demand at competitive rates and replace costlier power sourced through other means, according to IEX.