The Indian Energy Exchange (IEX) achieved a monthly electricity volume of 10.85 billion units (BU) in June 2025, representing a 6.5% year-over-year (YoY) increase.

The country’s energy consumption during the month reached 150.04 BU, representing a 1.5% YoY decline due to the early onset of monsoons.

Green Market

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved a traded volume of 964 million units (MU), a 30% YoY increase from 744 MU.

The weighted average price in the Green Day-Ahead Market for June 2025 was ₹3.3 (~$0.038)/kWh.

In May, the IEX Green Market, had achieved a volume of 915 MU, a 47% YoY increase from 622 MU.

REC Market

A total of 3.23 million renewable energy certificates (REC) were traded in the trading sessions held on June 11 and 25, 2025, at a clearing price of ₹350 (~$4.09)/REC and ₹360 (~$4.2)/REC, respectively.

Traded volume of RECs in June 2025 increased by 636% YoY.

The next REC trading sessions will be held on July 9 and 30, 2025.

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

The Market Clearing Price in the Day Ahead Market declined 28% YoY to ₹3.9/ (~$0.04)/kWh.

Similarly, the market-clearing price in the Real Time Market dropped 26% YoY to ₹3.73 (~$0.043)/kWh.

The Real-Time Electricity Market (RTM) volume increased to 4.31 BU, an increase of 34% from 3.21 BU in June 2024.

The Day-Ahead Market (DAM), including High Price Day Ahead Market (HPDAM), declined 5% YoY to 4.61 BU volume in June 2025.

Day Ahead Contingency and Term-Ahead Market (TAM), comprising High Price Term-Ahead Market, contingency, daily & weekly, and monthly contracts up to three months, traded 966 MU, a drop of 30% YoY from 1.38 BU volume.

First Quarter (Q1)

For the first quarter of the fiscal year 2026 , IEX’s electricity traded volume increased 15% YoY to 32.38 BU.

During the first quarter , widespread rains kept temperatures lower, leading to lower-than-expected electricity demand in the summer months. Simultaneously, increased hydro, wind, and sustained supply from coal-based generation resulted in higher supply liquidity on the exchange platform, which led to a substantial drop in DAM and RTM prices.

Green Market

During Q1 FY26, the Green Market achieved a volume of 2.66 BU, representing a 51% increase over Q1 FY25.

REC Market

A total of 5.26 million RECs were traded during the quarter, representing an increase of 149% YoY.

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

The market clearing price in the Day-Ahead Market declined by 16% YoY to ₹ 4.41 (~$0.051)/kWh during Q1 FY26.

The Market Clearing Price in the Real-Time Market declined 20% YoY to ₹3.91 (~$0.045)/kWh.

Heavy rains pushed RTM prices down to ₹1.53 (~$0.017)/kWh during the quarter, with near-zero prices during several time blocks (9:15 AM to 2:30 PM) on May 25, 2025.

The DAM segment, including HPDAM, registered total volumes of 12.4 BU, a decline of 7% YoY.

The RTM segment registered total volumes of 12.97 BU, an increase of 41% YoY.

The total volume on the Day Ahead Contingency and TAM segment during the quarter was 4.35 BU, an increase of 12% over Q1 FY25.

In April 2025, the Central Electricity Regulatory Commission invited stakeholder feedback by April 23, 2025, on a proposal by the IEX to introduce real-time trading in renewable energy.