Indian Energy Exchange (IEX) electricity traded volume reached 10,946 million units (MU) in May 2025,  a 2.9% year-over-year (YoY) rise from 10,633 MU.

In May 2025, the country’s energy consumption stood at 148.7 billion units, down 4% YoY. The decline can be attributed to unseasonal rains and the early onset of the monsoon, which kept temperatures lower than usual, resulting in reduced electricity demand.

The Real Time Market (RTM) on the platform saw market-clearing prices plunge to near-zero levels due to a surge in power supply and a simultaneous dip in demand caused by unseasonal rains and thunderstorms.

Green Market

IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved a volume of 915 MU, a 47% YoY increase from 622 MU.

The weighted average price in the Green Day-Ahead Market for the month was ₹3.59 (~$0.042)/unit.

Renewable Energy Certificates (REC)

A total of 1.74 million RECs were traded during the month, up 65% from the same period in 2024.

The RECs were traded at a clearing price of ₹345 (~$4.01)/ REC on the trading session on May 14, 2025, and ₹349 (~$4.06)/ REC for the session held on May 28, 2025.

The next REC trading sessions at the exchange are scheduled for June 11 and 25.

Electricity Market

The day-ahead market (DAM) saw 3,510 MU traded in May as compared to 4,371 MU in the same month last year, a decline of 20%

The RTM reported its highest ever monthly traded volume. The RTM volume increased 42% to 4,770 MU from 3,352 MU in May 2024.

Day Ahead Contingency and Term-Ahead Market, comprising contingency, daily and weekly, and monthly contracts up to three months, traded 1,684 MU in May, up 38% YoY from 1,221 MU.

An increased hydro, wind, and thermal generation resulted in higher supply liquidity on the exchange platform, leading to a substantial drop in DAM and RTM prices.

The market clearing price in the DAM declined 22% YoY to ₹4.12 (~$0.048)/kWh. The market-clearing price in the RTM fell 28% YoY to ₹3.43 (~$0.040)/kWh.

These prices presented an opportunity for distribution companies and commercial and industrial consumers to meet their demand at a competitive price and to replace ostlier power by procuring it through exchanges.

In April, IEX reported a monthly electricity traded volume of 10,584 MU, a 26% growth YoY.