Indian Energy Exchange (IEX), India’s premier electricity trading platform, reported a total monthly electricity traded volume of 12,341 MUs in April 2026, reflecting a strong year-on-year growth of 16.6%. During the same period, 1.18 lakh Renewable Energy Certificates (RECs) were traded, although REC volumes declined significantly by 59.4% compared to the previous year.India’s overall electricity consumption stood at 154 BUs in April 2026, registering a 4% increase year-on-year.
The month experienced highly dynamic weather conditions, ranging from unseasonal rainfall in the early part of the month to intense summer heat later on. This variability contributed to a surge in electricity demand, which reached an all-time high peak of 256 GW.In the Day-Ahead Market (DAM), strong demand conditions resulted in a 31% year-on-year increase in buy bids, while sell bids also rose by 35%.
The average market clearing price in DAM stood at ₹5.26 per unit, marking a 1% increase year-on-year. However, unseasonal rainfall during the initial days of April temporarily moderated demand, pushing DAM prices below ₹3.5 per unit on several occasions. This created favourable opportunities for distribution companies (DISCOMs) and commercial & industrial (C&I) consumers to procure power at competitive rates and optimise procurement costs.
The Real-Time Market (RTM) followed a similar pattern, with prices touching near-zero levels across multiple time blocks during the month due to surplus renewable energy availability, particularly during solar generation hours. Despite this, the average RTM price increased to ₹4.82 per unit, up 5.4% year-on-year.
The segment also recorded a major milestone, achieving its highest-ever single-day traded volume of 250 MUs on 30 April 2026, highlighting its increasing role in enabling flexible and real-time power procurement for DISCOMs and C&I consumers.Segment-wise, the Day-Ahead Market (including HP-DAM) recorded 4,624 MUs in April 2026 compared to 4,254 MUs in the same month last year, an increase of 8.7% year-on-year.
The Real-Time Electricity Market saw even stronger growth, with volumes rising to 5,069 MUs from 3,893 MUs in April 2025, reflecting a 30.2% increase. The Day-Ahead Contingency and Term-Ahead Market (TAM), including HPTAM and contracts ranging from daily, weekly, and monthly durations up to three months, traded 1,807 MUs in April 2026 compared to 1,656 MUs in April 2025, registering a 9.1% increase.T
he Green Market segment, comprising the Green Day-Ahead Market and Green Term-Ahead Market, achieved a total trading volume of 841 MUs in April 2026, up from 782 MUs in April 2025, reflecting a 7.5% year-on-year increase. The weighted average price in the Green Day-Ahead Market stood at ₹3.79 per unit, declining 6.9% year-on-year, indicating softer pricing trends in renewable energy trading.
In the Renewable Energy Certificate (REC) market, 1.18 lakh certificates were traded during the month, down 59.4% year-on-year. Trading sessions were conducted on 8 April and 29 April 2026, with clearing prices of ₹339 per REC and ₹370 per REC, respectively. While sell bids declined sharply by nearly 87% year-on-year, buy bids increased by 42%, leading to higher clearing prices. The next REC trading sessions are scheduled for 13 May 2026 and 27 May 2026.
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