IEX Sees 16% Surge in Electricity Trade, Hits 10,910 MU in January

05 Feb 2025

In January 2025, the Indian Energy Exchange (IEX) recorded total electricity trading volume of 10,910 million units (MU), reflecting a 16% year-on-year growth. The exchange also achieved its highest-ever monthly trade of Renewable Energy Certificates (RECs), with 38.03 lakh certificates transacted, marking a remarkable 150% increase compared to the same period last year.

Government data reported that the country’s energy consumption reached 137.5 billion units (BUs) in January 2025, marking a 2.7% increase from the previous year. Improved supply-side liquidity in the Day-Ahead Market (DAM) helped stabilise electricity prices on the exchange. The Market Clearing Price in the DAM stood at Rs 4.43 per unit, reflecting a 24% year-on-year decline. This drop in prices enabled discoms, as well as commercial and industrial consumers, to meet their power demand at more competitive rates.

The Day-Ahead Market (DAM) recorded a traded volume of 6,015 MU in January 2025, marking a 9% increase from 5,540 MU in January 2024. The Real-Time Electricity Market (RTM) saw a significant year-on-year growth of 28%, with volumes rising to 3,036 MU from 2,380 MU in the previous year. Meanwhile, the Day-Ahead Contingency and Term-Ahead Market (TAM)—which encompasses contingency, daily, weekly, and monthly contracts of up to three months—registered 1,107 MU, reflecting a 9% decline compared to January 2024.

The Green Market segment, encompassing the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market (G-TAM), achieved a total traded volume of 752 MU in January 2025, reflecting a 218% year-on-year surge from 236 MU in January 2024. The G-DAM segment experienced a substantial 235% increase, reaching 702 MU at a weighted average price of Rs 4.66 per unit, compared to 210 MU in January 2024. Meanwhile, the G-TAM segment recorded a volume of 50 MU, marking an 89% year-on-year growth from 27 MU in January 2024, with an average monthly price of Rs 4.77 per unit for non-solar energy.