Indian Energy Exchange (IEX), the country’s leading electricity trading platform, recorded a total traded electricity volume of 10,584 million units (MU) in April 2025, marking a 26% year-on-year increase. Additionally, the Exchange facilitated the trade of 2.90 lakh Renewable Energy Certificates (RECs) during the month.
As per government data released in April 2025, India’s energy consumption reached 147.5 billion units (BUs), reflecting a 2.2% rise compared to the same period last year. On April 25, 2025, the country’s peak power demand hit 235 GW, surpassing the previous peak of 224 GW recorded in April 2024. Despite the surge in demand, the average market clearing price in the Day-Ahead Market remained competitive at Rs. 5.20/unit, owing to improved power supply.
Looking ahead to FY 2025-26, peak power demand is projected to exceed 270 GW. In anticipation of this rise, the government has implemented strategic measures such as the mandatory operation of imported coal and gas-based plants, along with improved coal availability. These steps are expected to bolster sell-side liquidity in power exchanges.
Electricity Market Performance
Day-Ahead Market (DAM):
Traded volume stood at 4,231 MU in April 2025, up 3% from 4,116 MU in April 2024.
Real-Time Market (RTM):
Recorded a significant increase in volume to 3,893 MU, compared to 2,629 MU in April 2024 — a 48% YoY growth.
Term-Ahead Market (TAM) and Day-Ahead Contingency:
Including contingency, daily, weekly, and monthly contracts up to three months, this segment traded 1,639 MU in April 2025, up 28% from 1,276 MU in the previous year.
Green Market Performance
The Green Market, comprising the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market (G-TAM), achieved a combined traded volume of 782 MU in April 2025 — a 95% increase over 402 MU in April 2024.
The weighted average price in G-DAM was Rs. 4.07/unit during the month.
Renewable Energy Certificate (REC) Market
A total of 2.90 lakh RECs were traded in two sessions held on April 9 and April 30, 2025, clearing at Rs. 300/REC and Rs. 350/REC, respectively.
The next REC trading sessions are scheduled for May 14 and May 28, 2025.
