IEX reports strong Q1 performance driven by RTM, green market growth

The Indian Energy Exchange (IEX) reported 10,852 million units (MU) of traded electricity volume in June 2025, a 6.5% year-on-year increase. This was led by a 34% rise in Real-Time Market (RTM) volumes and a 30% increase in the green market. However, volumes in the Day-Ahead Market (DAM) and Term-Ahead Market (TAM) declined by 5% and 30% respectively.

Average market prices dropped sharply. RTM cleared at Rs 3.73 per unit (down 26% YoY) and DAM at Rs 3.90 per unit (down 28% YoY). The fall in prices was likely due to early monsoons, lower demand, and improved renewable energy output.

Renewable Energy Certificate (REC) trading surged 636% YoY in June to 3.23 million, pointing to strong compliance activity.

In Q1 FY 2025–26, IEX achieved a 15% YoY growth in total electricity traded volumes to 32,382 MU. RTM volumes rose 41% to 12,975 MU and green market volumes jumped 51% to 2,660 MU. REC trading grew 149% YoY to 5.27 million.

Prices fell across the board. DAM averaged Rs 4.41 per unit (down 16% YoY) and RTM averaged Rs 3.91 per unit (down 20% YoY). A sharp drop in prices was recorded on May 25, 2025, when heavy rains caused RTM prices to fall to Rs 1.53 per unit.

Overall, national energy demand in June 2025 declined 1.5% YoY to 150.04 billion units. Increased hydro, wind, and coal generation improved supply liquidity. This supported lower market prices and gave discoms and industrial consumers access to cheaper power.