Indian Energy Exchange, India’s premier electricity exchange, achieved its highest ever electricity traded volume of 141 billion units (BU) in the fiscal year 2026 (FY’26), marking a significant 17% increase on a year-on-year (YoY) basis. This landmark achievement underscores the exchange’s growing influence in the Indian power market.
In FY’26, IEX also recorded its highest ever yearly trade of Renewable Energy Certificates (RECs), with a total of 187.20 lakh RECs traded, reflecting a 5% YoY increase. The country’s power demand during this fiscal year grew by 1.1% YoY, supported by enhanced wind, hydro, and solar generation, alongside sustained coal-based generation, which contributed to higher supply liquidity on the exchange platform.
This increased liquidity led to a substantial decline in prices. The Market Clearing Price in the Day-Ahead Market (DAM) was ₹3.86 per unit, a 13.7% decrease compared to FY’25. Similarly, the Real-Time Market (RTM) saw prices drop to ₹3.59 per unit, a 16% decline from the previous year.
In the fourth quarter of FY’26 (Q4FY’26), IEX achieved its highest ever quarterly electricity traded volume of 39.4 BU, a 24.3% increase YoY. The quarter also saw the highest quarterly trade of RECs, with 71.70 lakh RECs traded, marking a 6.1% YoY increase.
March 2026 was particularly noteworthy, with IEX achieving its highest ever monthly electricity traded volume of 13.90 BU, a 23.5% increase YoY. During the same month, 28.94 lakh RECs were traded, a remarkable 119.9% increase YoY, at a clearing price of ₹340 per REC.
The Day-Ahead Market (DAM) including HPDAM, reached 62.78 BU for FY’26, a 2.4% increase YoY. The Real-Time Electricity Market (RTM) achieved 54.85 BU for FY’26, a 41% increase YoY. The Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 10.78 BU, a 23% increase YoY.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).