New Delhi: The Indian Energy Exchange (IEX) witnessed a significant rise in its overall trade volume, which grew by nearly 29% year-on-year in May. According to an official statement, IEX achieved a monthly trade volume of 10,633 million units (MU) in May 2024, up from 8,251 MU recorded in the same period last year.

The statement highlighted that the electricity trade volumes, a major component of the overall figure, saw a substantial increase as well. In May 2024, the electricity trade volumes reached 9,568 MU, reflecting a 21% year-on-year growth compared to the previous year.

This impressive growth in trade volumes can be attributed to a combination of factors, including increased demand for electricity across various sectors and improved market participation. The surge also underscores the growing importance of the Indian Energy Exchange as a pivotal platform for energy trading in the country.

IEX’s performance in May aligns with its ongoing efforts to enhance the efficiency and transparency of energy markets in India. The exchange has been instrumental in providing a robust platform for buyers and sellers, facilitating better price discovery, and ensuring a reliable supply of electricity.

The remarkable increase in trade volumes is expected to further strengthen IEX’s position in the energy market, encouraging more participants to leverage the benefits of the exchange. As India continues to pursue its energy transition goals, platforms like IEX will play a crucial role in meeting the dynamic demands of the sector.

Overall, the nearly 29% jump in trade volume at IEX in May 2024 is a positive indicator of the exchange’s growing influence and the increasing confidence of market participants in its capabilities. With the electricity sector poised for further growth, IEX is well-positioned to support the evolving needs of India’s energy landscape.