IEX Trades 17.43 Lakh RECs in May 2025, Growth of 65 Percent YoY
Indian Energy Exchange (IEX) recorded a traded electricity volume of 10,946 MU in May 2025, up 14 percent year-on-year, with robust growth across market segments including a 65 percent YoY surge in Renewable Energy Certificate trading.
June 04, 2025. By Mrinmoy Dey
According to government data published in May 2025, the country’s energy consumption stood at 148.7 BUs, marking a 4 percent decline compared to the previous year. “Unseasonal rains and the early onset of the monsoon kept temperatures lower than usual, leading to reduced electricity demand,” noted a statement by IEX.
It further added that increased hydro, wind, and thermal generation resulted in higher supply liquidity on the exchange platform which led to a substantial drop in DAM and RTM prices. The Market Clearing Price in the Day Ahead Market at INR 4.12/unit during May 2025, declined 22 percent year-on-year. Similarly, the Market clearing price in the Real Time Market at INR 3.43/unit during May 2025, declined 28 percent year-on-year.
These prices presented an opportunity for Discoms and Commercial and Industrial (C&I) consumers to meet their demand at a competitive price and to replace their costlier power by procuring through exchanges.
The Day-Ahead Market (DAM) achieved 3,510 MU volume in May'25 as compared to 4,371 MU volume in May'24, marking a decline of 20 percent YoY.
The Real-Time Electricity Market (RTM) reported highest ever monthly traded volume in May'25. The RTM volume increased to 4,770 MU in May'25, from 3,352 MU in May'24, registering an increase of 42 percent YoY.
Day Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily, weekly and monthly contracts up to 3 months, traded 1,684 MU in May'25 as compared to 1,221 MU volume in May'24, an increase of 38 percent YoY.
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 915 MU volume during May’25 as compared to 622 MU in May’24, registering an increase of 47 percent YoY. The weighted average price in Green Day-Ahead Market (G-DAM) for May’25 was INR 3.59/unit.
A total of 17.43 lakh RECs were traded in the trading sessions held on May 14, 2025 and May 28, 2025, at a clearing price of INR 345/REC and INR 349/REC, respectively. REC traded volume in May’25 increased by 65 percent on YoY basis.
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