Indian Energy Exchange (IEX), the country’s leading power trading platform, recorded a strong performance in November 2025, with monthly electricity traded volume (excluding TRAS) touching 11,409 MU. This reflects a 17.7% year-on-year rise, highlighting increased market activity across segments. During the same month, the exchange also saw trading of 4.74 lakh Renewable Energy Certificates.
Government data released for November 2025 shows India’s energy consumption reaching 123.4 BUs, marking a marginal decline of around 1 percent from the previous year. Improved availability of hydro, wind, and solar power boosted supply liquidity on the exchange, which in turn pushed market prices lower in both the Day Ahead and Real Time segments. The market clearing price in the Day Ahead Market fell 6.9 percent year-on-year to ₹3.07 per unit, while the Real Time Market price dropped 9.2 percent to ₹3.14 per unit. These softer price levels created an opportunity for Discoms and commercial and industrial buyers to meet their power needs more competitively by shifting procurement to the exchange.
In the electricity market segments, the Day Ahead Market recorded 5,668 MU in November 2025, slightly higher than the 5,651 MU traded a year earlier. The Real Time Electricity Market continued its strong growth trend, rising to 4,233 MU from 3,019 MU in November 2024, a steep 40.2 percent increase. The Day Ahead Contingency and Term-Ahead Market, which includes HPTAM along with contingency, daily, weekly, and monthly contracts of up to three months, reported a significant jump with 693 MU traded, up from 202 MU last year.
In the Green Market category, which covers the Green Day-Ahead and Green Term-Ahead segments, IEX posted a total of 815 MU during November 2025, nearly unchanged from the 818 MU seen in the same period last year. The weighted average price in the Green Day-Ahead Market stood at ₹3.29 per unit for the month.
On the Renewable Energy Certificate front, trading activity reached 4.74 lakh certificates across the sessions conducted on November 12 and November 26. Clearing prices were ₹370 per REC and ₹364 per REC respectively. However, the REC market witnessed a 13.1 percent year-on-year decline in traded volume during the month. The next REC trading sessions are slated for December 10 and December 31, 2025.
