India’s premier energy trading platform, Indian Energy Exchange (IEX), reported a robust performance in June 2025, with total electricity trade volumes reaching 10,852 million units (MU), reflecting a 6.5% year-on-year increase. The exchange also witnessed significant momentum in renewable energy trading, particularly in Renewable Energy Certificates (RECs), with 32.32 lakh RECs traded in June alone. Notably, the IEX Green Market recorded a 30% surge in volumes, underscoring rising demand for green power. Overall, for the first quarter of FY26, IEX registered a 15% increase in electricity volumes and a 149% rise in REC transactions—indicating a shift toward cleaner, market-driven energy trading.
Power Market Performance: June Snapshot
The IEX recorded total electricity trade volumes of 10,852 MU in June 2025, up 6.5% from the same month last year. This growth was supported by increased participation across various market segments, particularly in real-time and green energy trading.
Despite the positive overall trend, the Day-Ahead Market (DAM), a key component of short-term energy trading, reported a 5% decline in volumes. DAM volumes stood at 4,610 MU, down from 4,849 MU in June 2024. This dip may reflect market adjustments, changing demand patterns, or increased reliance on alternate segments such as real-time and green power markets.
Real-Time and Green Market Momentum
The Real-Time Electricity Market (RTM) emerged as a strong growth driver, recording a year-on-year volume surge of 34% to reach 4,312 MU in June 2025. This reflects greater reliance by utilities and commercial consumers on last-minute market purchases for managing demand-supply imbalances.
Simultaneously, IEX’s Green Market—comprising the Green Day-Ahead and Green Term-Ahead segments—recorded 964 MU in June, up from 744 MU a year earlier. The 30% growth demonstrates the increasing preference for renewable energy sourcing, aligning with India's sustainability commitments and climate goals.
Renewable Energy Certificates Drive Trading Activity
REC trading gained remarkable traction in June, with two sessions held on June 11 and June 25 witnessing total trades of 32.32 lakh certificates. Clearing prices were set at Rs. 350 and Rs. 360 per certificate, respectively.
The REC market—an essential mechanism enabling obligated entities to meet renewable purchase obligations—has seen revived interest amid policy stability and growing compliance requirements. IEX has scheduled the next REC trading sessions for July 9 and July 25, continuing the momentum.
For Q1 FY26, REC trading volumes surged by 149% to reach 52.65 lakh certificates, compared to the same period in the previous year. This sharp rise reflects both supply-side recovery and increased buyer participation.
Quarterly Performance and Strategic Outlook
During the first quarter of FY26 (April–June 2025), IEX achieved a total electricity trade volume of 32,382 MU—a 15% year-on-year rise. This performance underscores the platform’s growing role in India’s evolving power market, where flexibility, transparency, and competitiveness are increasingly valued.
The significant uptick in green energy trading and RECs positions IEX at the forefront of India’s energy transition. As the country scales up renewable generation and strengthens its commitment to decarbonization, the role of energy exchanges in integrating intermittent green power through market-based mechanisms becomes critical.
Conclusion
The Indian Energy Exchange continues to deliver steady growth and innovation in India’s energy sector. With expanding participation across traditional and renewable segments, and growing REC demand, IEX is well-positioned to support India’s clean energy goals and market reforms. As utilities, industries, and policy frameworks align around sustainability, platforms like IEX will play a pivotal role in shaping the future of electricity trade—efficient, green, and market-driven.
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