The Indian Energy Exchange (IEX) achieved a monthly electricity traded volume of 10,910 million units (MU) for January 2025, representing a 16% year-on-year (YoY) growth.

India’s energy consumption reached 137.5 billion units (BU), a 2.7% increase from the previous year.

The market clearing price in the day-ahead market (DAM) was recorded at ₹4.43 (~$0.051)/kWh, marking a 24% YoY decrease.

Green Market: G-DAM and G-TAM performance

The green market on IEX achieved a total volume of 752 MU in January 2025, a 218% YoY growth from 236 MU. The green day-ahead market (G-DAM) traded 702 MU, a 234% YoY growth from 210 MU in the same period last year.

The G-DAM’s volume increase was accompanied by a weighted average price of ₹4.66 (~$0.0593)/kWh, a 25% YoY decrease from ₹5.87 (~$0.071)/kWh.

The green term-ahead market (G-TAM) recorded 50 MU in traded volume, an 89% YoY increase from 27 MU in January 2024. The average monthly price for non-solar energy in G-TAM was ₹4.77 (~$0.0552)/kWh, down YoY from ₹6.57 (~$0.079)/kWh.

Electricity Market: DAM, RTM, and TAM performance

The DAM achieved a total traded volume of 6,015 MU in January 2025, a 9% YoY increase from 5,540 MU.

In the real-time market (RTM), IEX witnessed a traded volume increase by 28% YoY to 3,036 MU, up from 2,380 MU in the same month last year.

The day-ahead contingency and term-ahead market (TAM) comprising of contingency, daily, weekly, and monthly contracts extended up to three months, traded 1,107 MU, representing a 9% YoY decrease.

REC Market

IEX achieved a monthly trade of 3.803 million renewable energy certificates (RECs) in January 2025, representing a 150% YoY growth. The trading sessions on January 8 and January 29, 2025, witnessed clearing prices of ₹325 (~$3.76) per REC and ₹340 (~$3.93) per REC, respectively.

The next REC trading sessions on IEX are scheduled for February 12 and February 26 this year and are expected to continue this positive trend.

Earlier this year, the IEX recorded its highest-ever monthly electricity trading volume of 11,132 MU in December 2024, marking a 29% YoY increase. In the third quarter of the financial year 2025 alone, the traded volume stood at 30,464 MU, a 16% YoY growth.

In December 2024, IEX traded 818 MU of green energy during November 2024, a 331.8% increase from 189 MU in the same month in 2023.