The Indian Energy Exchange (IEX), India’s premier electricity trading platform, recorded a significant surge in electricity trade volumes in April 2025, achieving a total of 10,584 million units (MU). This represents a robust 26% year-on-year (YoY) growth, underscoring the increasing reliance on market-based mechanisms to meet the country’s growing power demand.
In parallel, the exchange’s Green Market saw a remarkable 95% YoY jump, with 782 MU of green electricity traded during the month, up from 402 MU in April 2024. The weighted average price in the Green Day-Ahead Market (G-DAM) stood at ₹4.07 per unit.
Despite the rising electricity demand, the Day-Ahead Market (DAM) maintained competitive pricing, with the average market clearing price recorded at ₹5.20 per unit for April 2025 — roughly in line with the previous year. This price stability was attributed to improved supply-side conditions.
Government data for April 2025 shows that India’s total energy consumption reached 147.5 billion units (BUs), registering a 2.2% increase compared to the same period last year. Notably, peak demand hit 235 gigawatts (GW) on 25th April, exceeding the April 2024 peak of 224 GW. The growing power requirement has prompted the government to mandate operations of imported coal-based and gas-based plants while ensuring better coal availability to enhance sell-side liquidity on exchanges.
Breaking down the market segments, the Day-Ahead Market traded 4,231 MU in April 2025, marking a 3% increase from the 4,116 MU traded in April 2024. The Real-Time Market (RTM) showed even more significant growth, with volumes surging to 3,893 MU from 2,629 MU, a 48% increase YoY. The Term-Ahead Market, including day-ahead contingency, daily, weekly, and monthly contracts up to three months, saw a 28% rise with 1,639 MU traded in April 2025, compared to 1,276 MU in the same month last year.
In the Renewable Energy Certificate (REC) market, IEX facilitated the trading of 2.90 lakh RECs during sessions held on 9th and 30th April 2025. The certificates cleared at prices of ₹300 and ₹350 per REC, respectively.
With the country’s peak power demand expected to cross 270 GW in FY2026, the Indian power market is poised for further expansion, with the IEX playing a key role in enabling efficient electricity trading to meet growing consumption needs.
