Indian Energy Exchange (IEX), the country’s leading electricity trading platform, reported its highest-ever monthly electricity traded volume of 12,664 million units (MU) in July 2025. This marks a substantial 25.5% year-on-year (YoY) growth and includes volume from the Term-Ahead Renewable Segment (TRAS). The exchange also facilitated the trade of 16.26 lakh Renewable Energy Certificates (RECs) during the month.
As per government data released for July 2025, India’s total energy consumption stood at 153.6 billion units (BUs), reflecting a 2.6% rise compared to the same period last year. Despite the increase in demand, power prices on the exchange witnessed a decline due to enhanced supply-side liquidity. The average market clearing price in the Day-Ahead Market (DAM) dropped 16% YoY to ₹4.18 per unit. Similarly, prices in the Real-Time Market (RTM) averaged ₹3.83 per unit in July 2025, registering a sharper decline of 23% YoY.
The lower price trend presented an opportunity for distribution companies (DISCOMs) and commercial and industrial (C&I) consumers to meet their energy requirements at more competitive rates. Many buyers used the exchange to replace costlier power and optimize procurement strategies.
In the core electricity market, which includes the Day-Ahead Market (DAM), Real-Time Market (RTM), and Term-Ahead Market (TAM), IEX showed significant growth across all segments. The DAM, including the High Price DAM (HPDAM), traded 5,510 MU in July 2025, a 9% increase from 5,056 MU in July 2024. The RTM segment achieved a record monthly volume of 5,109 MU, up 53% from 3,334 MU in the same month last year. Notably, RTM also recorded its highest-ever single-day volume of 204.6 MU on July 27, 2025.
The Term-Ahead Market, comprising Day Ahead Contingency, High Price TAM (HPTAM), and contracts spanning daily, weekly, and up to three months, traded 917 MU in July 2025. This marks a 28% growth compared to 714 MU in July 2024.
IEX’s Green Market, which includes the Green Day-Ahead Market (G-DAM) and the Green Term-Ahead Market (G-TAM), also recorded a modest rise. A total of 1,025 MU was traded in these segments during July 2025, up 4% YoY from 990 MU in July 2024. The weighted average price in the Green DAM stood at ₹3.91 per unit.
In the Renewable Energy Certificate (REC) market, a total of 16.26 lakh RECs were traded in two sessions held on July 9 and July 30, 2025. The clearing price stood at ₹360 per REC. However, this represented a 48% decline in trading volume compared to the same period last year. The upcoming REC trading sessions are scheduled for August 13 and August 27, 2025.
