The Indian Energy Exchange (IEX) traded 552 million units (MU) of green energy in February 2025, an 85% year-over-year (YoY) increase from 298 MU.

The Green Day-Ahead Market (G-DAM) traded 519 MU during February with a weighted average price of ₹4.59 (~$0.052)/kWh, an increase of 95% YoY from 266 MU.

The Green Term-Ahead Market (G-TAM) traded 33 MU, with an average monthly price of non-solar at ₹3.88 (~$0.044)/kWh, compared to 32 MU in February 2024, an increase of 3% YoY.

The IEX achieved a monthly electricity traded volume of 9,622 MU in February 2025, a 9% YoY increase.

According to government data, India’s energy consumption reached 131.5 billion units in February, with the average daily energy consumption increasing 7% YoY.

There was a steady rise in power demand across most regions due to milder winters and an unusually warm February.  Power demand peaked on February 7 to 238 GW, compared to the maximum peak power demand of 222 GW on February 23, 2024.

Despite a rise in demand, power exchange prices were lower than the previous year due to higher supply side liquidity in the Day-Ahead Market (DAM) segment.

The Market Clearing Price in the DAM dropped by 11% to ₹4.38(~$0.05)/kWh during the month.

Electricity Market: Day-Ahead, Term-Ahead and Real-Time Market

The DAM volume increased by 14% YoY to 5,369 MU in February 2025 from 4,722 MU.

The Real-Time Electricity Market increased by 23% YoY to 2,887 MU from 2,340 MU in February 2024.

Day Ahead Contingency and Term-Ahead Market, which comprises contingency, daily, weekly, and monthly contracts for up to three months, dropped 45% YoY to 814 MU.

REC Market

Renewable Energy Certificates (REC) traded in February 2025 increased by 167% YoY.

A total of 1.63 million RECs were traded on February 12 and 27, 2025, at a clearing price of ₹350 (~$4.007)/REC and ₹349(~$3.99)/REC respectively.

The next REC trading sessions at IEX are scheduled for March 12 and 26.

In January, IEX traded 10,910 million units of electricity, representing a 16% YoY growth.

The IEX recorded its highest-ever monthly electricity trading volume of 11,132 MU in December 2024, marking a 29% YoY increase.