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IEX Sees 15% YoY Growth in Q1 FY26 Electricity Volume; Green Market and REC Trading Surge

The Indian Energy Exchange (IEX) reported a 15% year-over-year (YoY) growth in electricity traded volume during Q1 FY26, reaching 32.38 billion units (BU). In June 2025 alone, IEX recorded a monthly volume of 10.85 BU, a 6.5% YoY rise, despite a 1.5% drop in national energy consumption due to early monsoons.

The Green Market segment—comprising Green Day-Ahead and Term-Ahead Markets—achieved 964 million units (MU) in June, marking a 30% YoY growth. For the full quarter, green market volumes surged 51% YoY to 2.66 BU. The weighted average price in the Green Day-Ahead Market stood at Rs3.3/kWh.

Renewable Energy Certificate (REC) trading saw exponential growth, with 3.23 million RECs traded in June at Rs350–Rs360/REC. Quarterly REC trades totaled 5.26 million, up 149% YoY.

The Real-Time Market (RTM) posted a 41% quarterly growth to 12.97 BU, despite market prices falling 20% YoY to Rs3.91/kWh, driven by high hydro and wind generation and lower summer demand. Notably, RTM prices hit Rs1.53/kWh during peak rains on May 25.

In contrast, the Day-Ahead Market (DAM) volume declined 7% YoY to 12.4 BU, with prices down 16% YoY to Rs4.41/kWh. The Term-Ahead Market (TAM) grew 12% YoY to 4.35 BU.