Indian Energy Exchange (IEX) recorded its highest-ever monthly electricity traded volume of 13,050 MU in January 2026, registering a 19.6% year-on-year (YoY) growth.

This performance was supported by robust participation across market segments and improved supply liquidity.

During the month, a total of 239,100 Renewable Energy Certificates (RECs) were traded on the exchange.

India’s power consumption stood at 142.74 billion units (BUs) in January 2026, reflecting a 3.8% increase YoY, according to government data.

Higher generation from hydro, wind, and solar sources, along with a sustained coal-based supply, improved market liquidity.

This resulted in a significant decline in electricity prices.

Electricity Market

The Day-Ahead Market (DAM) clearing price averaged ₹3.86 (~$0.043)/kWh, down 12.9% YoY, and the Real-Time Market (RTM) price averaged ₹3.72 (~$0.041)/kWh, down 15.9% YoY.

The lower prices enabled distribution companies and commercial and industrial consumers to replace costlier power with competitively priced exchange-based procurement

In the Day-Ahead Market (DAM), traded volumes reached 6,182 MU, up 2.8% YoY compared to 6,015 MU in January 2025.

The Real-Time Market (RTM) delivered the strongest growth, with volumes surging to 4,638 MU, marking a substantial 52.8% YoY increase from 3,036 MU last year.

Meanwhile, the Term-Ahead Market (TAM), including contingency, daily, weekly, and monthly contracts up to three months, recorded 1,397 MU, up 26.2% YoY from 1,107 MU

Green Market

The IEX Green Market, which includes the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market, achieved 832 MU in January 2026, growing 10.7% YoY from 752 MU.

The weighted average G-DAM price stood at ₹4.06 (~$0.045)/kWh, representing a 12.5% YoY decline, reflecting improved renewable supply availability

Renewable Energy Certificate Market

In the REC Market, trading sessions held on January 14 and January 28, 2026, saw 239,100 RECs being traded at clearing prices of ₹339 (~$3.75)/REC and ₹333 (~$3.68)/REC, respectively. Despite active trading, REC volumes declined 37.1% YoY during the month.

The next REC trading sessions are scheduled for February 11 and 25, 2026.

IEX recorded a consolidated revenue of ₹1.83 billion (~$19.97 million), a 14% YoY increase from ₹1.61 billion (~$17.50 million), in the third quarter of the financial year (FY) 2026.