IEX Power Trade Volume Rises Over 17 Percent to 11,409 Million Units in November

Indian Energy Exchange (IEX) reported a strong uptick in power trading activity in November 2025, clocking 11,409 million units (MU) of electricity traded during the month, a 17.7 percent rise year-on-year.

Government data released in November shows the country’s energy consumption at 123.4 billion units (BU), down 1 percent from the previous year. Increased supply from hydro, solar and wind improved liquidity on the Exchange, pulling down prices in both the Day-Ahead and Real-Time markets.

The Day-Ahead Market (DAM) averaged INR 3.07 per unit, a 6.9 percent YoY decline, while the Real-Time Market (RTM) settled at INR 3.14 per unit, 9.2 percent  lower than last year. The softer prices helped distribution companies and commercial-industrial consumers optimise procurement and replace costlier power.

The RTM segment saw one of the strongest gains, rising to 4,233 MU from 3,019 MU last year,  a 40.2 percent YoY jump. The DAM traded 5,668 MU, marginally above the 5,651 MU recorded in November 2024. The Term-Ahead Market,  including contingency, daily/weekly and monthly contracts up to three months, traded 693 MU, compared to 202 MU last year, marking a 243.1 percent YoY increase.

The Green Day-Ahead and Green Term-Ahead segments jointly traded 815 MU, almost flat compared to 818 MU in November 2024.
The weighted average price in the Green Day-Ahead Market stood at INR 3.29 per unit.

A total of 4.74 lakh Renewable Energy Certificates (RECs) were traded across two sessions in November at clearing prices of INR 370 and INR 364 per certificate. REC volumes were 13.1 percent  lower on a yearly basis. The next REC sessions will be held on December 10 and December 31.