Indian Energy Exchange (IEX) reported a strong performance for May 2026, recording a total electricity traded volume of 12,983 million units (MU), marking an 18.6% year-on-year increase compared to May 2025.
The exchange also traded 6.10 lakh Renewable Energy Certificates (RECs) during the month, although REC volumes witnessed a sharp 65% decline on a yearly basis due to lower sell-side participation.
India’s overall energy consumption reached 164.98 billion units (BU) in May 2026, registering an 11.5% increase from the same period last year. The country’s peak power demand also touched a historic high of 270.82 GW during the month, reflecting rising electricity requirements amid summer demand.
The Day-Ahead Market (DAM), including High Price DAM (HP-DAM), achieved a traded volume of 4,417 MU in May 2026, compared to 3,535 MU in May 2025, representing a 24.9% growth year-on-year.
Meanwhile, the Real-Time Market (RTM) continued its upward momentum with traded volumes rising to 5,529 MU from 4,770 MU last year, registering a 15.9% increase.
The Day-Ahead Contingency and Term-Ahead Market (TAM), including HPTAM contracts, recorded 2,004 MU in traded volume during May 2026, up 16.1% from 1,726 MU in the corresponding period last year.
The surge in electricity demand significantly impacted market prices. In the DAM segment, buy bids increased sharply by 77% year-on-year, while sell bids rose by 30%.
As a result, the average market clearing price in the Day-Ahead Market climbed to ₹4.88 per unit in May 2026, an 18.3% increase compared to the previous year.
Similarly, the average clearing price in the Real-Time Market stood at ₹4.16 per unit, reflecting a 21.2% year-on-year increase.
IEX’s Green Market, comprising the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market (G-TAM), recorded a traded volume of 1,034 MU during May 2026, compared to 915 MU in May 2025, showing a 13% annual growth.
The weighted average price in the Green Day-Ahead Market remained largely stable at ₹3.60 per unit.
The Renewable Energy Certificate market saw a substantial decline in trading activity during May 2026. Only 6.10 lakh RECs were traded across sessions held on May 13 and May 29, with the market clearing price at ₹400 per REC.
According to the exchange, sell bids dropped by 85.3% year-on-year, contributing to higher clearing prices during the month.
