IEX Q2 FY26 sees higher electricity volumes, lower prices

Indian Energy Exchange (IEX) recorded electricity traded volume of 35,217 MU (excluding TRAS) in Q2 FY26, up 16.1% year-on-year. TRAS volumes rose to 603 MU from 16.9 MU in Q2 FY25. Renewable Energy Certificate (REC) trading declined 30% to 44.22 lakh during the quarter.

Higher supply from hydro, wind, and coal-based generation increased market liquidity, resulting in lower prices. The Day-Ahead Market (DAM) cleared at Rs 3.93/unit, down 12.5% year-on-year, while the Real-Time Market (RTM) cleared at Rs 3.51/unit, down 16.1%. On 25 August 2025, heavy rains briefly drove the RTM price to near zero (Rs 0.01/kWh) in one time block.

In September 2025, IEX traded 11,065 MU (excluding TRAS), a 7.1% increase year-on-year. TRAS volumes rose to 289 MU, while REC trading fell 39% to 6.27 lakh. DAM and RTM prices were Rs 3.58/unit and Rs 3.31/unit, down 14.5% and 16.8% respectively.