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IEX Reports Strong Growth in FY 2024, Trades Record Volume of Renewable Energy Certificates

-The Indian Energy Exchange (IEX) reports a 26.4% increase in traded renewable energy certificates (RECs) in FY 2024.

-Traded 75.39 lac RECs, equivalent to 7.54 BU, marking a significant YoY growth.

-IEX records revenue of INR 550.8 crore, up 16.2% YoY, with standalone profit after tax growing 16.7% YoY to INR 341.4 crore.

-Achieved highest trading volume of 110.1 billion units in FY 2024, with electricity volumes at 101.7 BU, up 12.2% YoY.

-Day-ahead-market prices on the exchange declined to INR 5.24/unit in FY 2024, down 12% from FY 2023.

-India’s electricity consumption in FY 2024 reaches 1,622 BU, up 7.7% YoY.

-Positive developments in the regulatory and policy landscape including General Network Access regulation and Indian Electricity Grid Code regulations.

-IEX continues to serve as India’s premier energy exchange, facilitating efficient price discovery and enhancing market transparency and accessibility.

Read the full article on Pv Magazine

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