IEX power market update January 2025: electricity traded volume rises 16% YoY to 10,910 MU, REC trades hit record high

January 2025 saw the highest-ever trade of Renewable Energy Certificates on IEX, with 38.03 lakh RECs traded across two sessions at prices ranging between ₹325 and ₹340 per REC. T

The Indian Energy Exchange (IEX), India’s leading electricity trading platform, recorded a strong start to the year with a 16% year-on-year (YoY) growth in traded electricity volume for January 2025. The exchange reported a total traded volume of 10,910 million units (MU) during the month, reflecting increased participation from power distributors and commercial consumers.

IEX also achieved its highest-ever monthly trade of Renewable Energy Certificates (RECs), with 38.03 lakh RECs exchanged—marking a 150% YoY increase.

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The Day-Ahead Market (DAM), a key segment for short-term electricity trading, saw a 9% YoY rise, reaching 6,015 MU in January 2025. Meanwhile, the Real-Time Market (RTM) witnessed even stronger growth, increasing by 28% YoY to 3,036 MU.

Price trends remained favorable for buyers, with the Market Clearing Price in DAM dropping 24% YoY to ₹4.43 per unit. This price dip allowed distribution companies (Discoms) and industrial consumers to procure electricity at more competitive rates.

IEX’s Green Market continued its upward trajectory, achieving a 218% YoY growth in traded volume. The Green Day-Ahead Market (G-DAM) surged by 235%, reaching 702 MU, while the Green Term-Ahead Market (G-TAM) grew 89% YoY, trading 50 MU during the month.

With India’s growing focus on renewable energy adoption, the surge in green power trading highlights the increasing role of exchanges in supporting sustainable energy transition.

REC trading

January 2025 saw the highest-ever trade of Renewable Energy Certificates on IEX, with 38.03 lakh RECs traded across two sessions at prices ranging between ₹325 and ₹340 per REC. This remarkable 150% YoY increase reflects strong demand for compliance with renewable purchase obligations (RPOs) among industries and power companies.

The next REC trading sessions at IEX are scheduled for February 12 and February 26, 2025.

According to government data, India’s total energy consumption in January 2025 stood at 137.5 billion units (BUs), marking a 2.7% increase YoY. The growing electricity demand, coupled with improved supply-side liquidity, has supported IEX’s expansion and price stability.

As India continues its energy transition, IEX remains a crucial player in enhancing market efficiency, price discovery, and access to green energy.