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News: Indian Energy Exchange achieved 970.7 crore units overall volume in December’23, including 10.52 Lac Renewable Energy Certificates (RECs) (equivalent to 105.2 crore unit), marking a 14.9% increase on YoY basis. IEX achieved 865.5 crore total electricity volume in December 2023, registering an increase of 8.7% YoY basis. For the Q3FY24, IEX achieved 28,32.6 crore units overall volume, registering an increase of 16.9% YoY basis. The Day-Ahead Market (DAM) volume was at 479.8 crore units in December 2023, as compared to 500 crore units in December '22. The DAM segment registered total volumes of 1468.4 crore units during Q3FY24, a marginal increase of 1.5% over Q3FY23.
Views: The company has seen decent recovery in the volumes traded given the strong demand power demand trends. The company continues to dominate major segment of the power exchange market. However, decision on implementation of market coupling mechanism will continue to remain an overhang on the stock.
Impact: Positive