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IEX Records All-Time High Trading Volume in FY26, Rising 17% Year-on-Year
Apr 08, 2026
The Indian Energy Exchange (IEX) reported its highest-ever electricity trading volume of 141 billion units (BU) in FY26, marking a 17% year-on-year increase. The milestone reflects a significant shift in India’s short-term power market, driven by increased supply availability even as overall demand growth remained modest.
In addition to electricity trading, the exchange also recorded its highest annual volume of Renewable Energy Certificate (REC) transactions. A total of 18.72 million RECs were traded during the fiscal year, representing a 5% increase compared to the previous year.
Despite the strong trading performance, the growth in power demand was relatively limited, rising by only 1.1% year-on-year. However, a substantial increase in electricity generation—particularly from renewable sources such as wind, hydro, and solar, along with consistent coal-based generation—led to higher supply liquidity on the exchange platform.
This surge in supply contributed to a notable decline in spot electricity prices across market segments. The Market Clearing Price in the Day-Ahead Market averaged Rs 3.86 per unit in FY26, reflecting a 13.7% drop compared to FY25. Similarly, the Real-Time Market price stood at Rs 3.59 per unit, down by 16% year-on-year.
The momentum strengthened further in the final quarter of the fiscal year. IEX recorded its highest-ever quarterly trading volume of 39.4 BU in Q4 FY26, registering a 24.3% increase over the same period last year. REC trading also reached a quarterly high of 7.17 million certificates, up 6.1% year-on-year.
March 2026 emerged as a standout month, with electricity traded volume touching 13.90 BU—an increase of 23.5% compared to the previous year—highlighting sustained activity and growing participation in the power exchange market.
Overall, the record-breaking performance underscores the evolving dynamics of India’s power sector, where improved supply conditions are reshaping pricing trends and market behaviour.