IEX Power Volumes Rise 19.6 Percent YoY to Record 13,050 MU in January as Prices Decline

Indian Energy Exchange (IEX) recorded its highest-ever monthly electricity traded volume at 13,050 million units (MU) in January 2026, marking a 19.6 per cent year-on-year growth.

According to government data released in January, India’s power consumption stood at 142.74 billion units (BUs), up 3.8 per cent from a year ago. Higher generation from hydro, wind and solar sources, along with steady coal-based output, improved supply liquidity on the exchange platform, leading to lower market prices.

The average market clearing price in the Day-Ahead Market (DAM) fell to Rs 3.86 per unit, down 12.9 per cent year-on-year, while the Real-Time Market (RTM) price declined 15.9 per cent to INR  3.72 per unit. The softer prices enabled distribution companies and commercial and industrial consumers to replace higher-cost power through exchange-based procurement.

In the Day-Ahead Market, volumes rose marginally to 6,182 MU in January 2026 compared with 6,015 MU a year earlier. The Real-Time Market saw a sharp jump, with traded volumes increasing to 4,638 MU from 3,036 MU, reflecting a 52.8 per cent annual growth.

The Term-Ahead Market (TAM), including contingency, daily, weekly and monthly contracts up to three months, recorded volumes of 1,397 MU, up 26.2 per cent from 1,107 MU in January 2025.

IEX’s Green Market, comprising the Green Day-Ahead and Green Term-Ahead segments, traded 832 MU during the month, compared with 752 MU a year earlier, registering a 10.7 per cent rise. The weighted average price in the Green Day-Ahead Market declined 12.5 per cent year-on-year to Rs 4.06 per unit.

In the Renewable Energy Certificate (REC) market, 23.91 lakh RECs were traded across sessions held on January 14 and January 28, at clearing prices of INR 339 per REC and INR  333 per REC, respectively. REC trading volumes declined 37.1 per cent on an annual basis. The next REC trading sessions are scheduled for February 11 and February 25, 2026.