The Indian Energy Exchange (IEX)’s Green Market, comprising the Green Day Ahead Market (G-DAM) and Green Term Ahead Market, registered 738 million units (MU) in October 2026, down 30% from 1,055 MU in the corresponding month last year.

The weighted average G-DAM price increased 67% year-over-year (YoY) to ₹4.13 (~$0.044)/kWh.

In the second quarter (Q2) of the financial year (FY) 2027, IEX’s Green Market dropped 5.8% YoY from 3,040 MU.

Higher Power Trading

IEX recorded an electricity traded volume of 13.09 billion units (BU) in October 2026, up 16.5% YoY.

According to government data cited by IEX, India’s energy consumption reached 159.8 BU during the month, up 21.9% YoY.

Strong power demand drove a 265% YoY increase in buy bids in the Day Ahead Market (DAM), pushing market prices higher. IEX attributed the sharp price increase partly to the low base in October 2025, when electricity demand was relatively subdued.

Power demand remained volatile during October. Warmer weather due to El Niño and below-normal monsoon rainfall supported strong demand during the first half of the month. However, cooler weather, rainfall, and the impact of Cyclone Arnab eased demand during the latter part of the month.

Higher supply liquidity during periods of subdued demand pushed Real-Time Market (RTM) prices near zero across multiple time blocks.

Power Market

DAM, including the High Price Day Ahead Market (HP-DAM), registered 4,508 MU of traded volume in October, down 3.8% from 4,684 MU in the corresponding month last year.

The RTM registered 5,670 MU of traded volume, up 23.7% from 4,583 MU in October 2025. The segment accounted for approximately 43.3% of the total electricity traded volume during the month.

The Day Ahead Contingency and Term Ahead Market (TAM), comprising the High Price Term Ahead Market, intraday, contingency, daily and weekly contracts, and monthly contracts of up to three months, registered 2,175 MU during the month, up 138.8% from 911 MU in October 2025.

The average market-clearing price in the DAM rose 149% YoY to ₹6.66 (~$0.070)/kWh from ₹2.67 (~$0.028)/kWh in October 2025. The average market clearing price in the RTM rose 112% YoY to ₹5.78 (~$0.061)/kWh.

Renewable Energy Certificates

A total of 1.2 million renewable energy certificates (RECs) traded in October 2026, up 97.5% YoY.

Trading sessions held on October 14 and October 28 recorded clearing prices of ₹338 (~$3.57)/REC and ₹330 (~$3.48)/REC, respectively.

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

In Q2 of FY 2027, IEX reported revenue of ₹1.67 billion (~$17.55 million), an 8.4% YoY increase from ₹1.54 billion (~$16.18 million).