New Delhi, January 5, 2026: Indian Energy Exchange (IEX) reported steady momentum in electricity trading volumes during December 2025 and the nine months ended FY26, supported by robust growth in the real-time market and improved supply conditions across power generation sources.
December 2025 Performance Highlights
During December 2025, IEX recorded total electricity traded volume of 11.44 billion units (BU), reflecting a 2.8 percent year-on-year increase. The real-time market remained the key growth driver, with traded volumes rising 20.5 percent year-on-year.Market prices remained largely stable despite higher power consumption levels. The average price in the day-ahead market stood at Rs 3.92 per unit, marginally higher by 0.7 percent year-on-year, while the real-time market cleared at an average price of Rs 3.93 per unit, up 2.2 percent.
A total of 7.7 lakh renewable energy certificates (RECs) were traded during the month.
Q3 FY26 Performance
For the third quarter of FY26, IEX achieved electricity traded volumes of 34.08 BU, marking a 11.9 percent year-on-year growth. The real-time market continued to scale up sharply, posting 35.7 percent year-on-year growth during the quarter.Higher availability of hydro power, increased wind generation and sustained coal-based supply improved liquidity on the exchange platform, leading to softer market prices. The average day-ahead market price declined 13.2 percent year-on-year to Rs 3.22 per unit, while the real-time market price eased 11.6 percent to Rs 3.26 per unit.
REC trading during the quarter stood at 18.63 lakh certificates.
9MFY26 Overview
For the nine months ended FY26, IEX traded 101.68 BU of electricity, registering a 14.3 percent year-on-year increase. The real-time market remained the fastest-growing segment, recording 38.6 percent year-on-year growth.Average prices across segments remained lower on an annual basis. The day-ahead market average price stood at Rs 3.85 per unit, down 14.1 percent, while the real-time market averaged Rs 3.56 per unit, lower by 16.3 percent year-on-year.
Segment-wise Market Performance
In Q3 FY26, the day-ahead market traded 16,250 million units, marginally lower on a year-on-year basis. December volumes in this segment declined 11.6 percent compared to the same month last year.The real-time market traded 12,650 million units during the quarter, up sharply from the previous year, while December volumes reached 3,833 million units.
The term-ahead and contingency market segment posted strong growth, trading 2,535 million units in Q3 FY26, up 29.3 percent year-on-year, with December volumes rising 87 percent.
The green power market recorded volumes of 2,647 million units during the quarter, reflecting 7.2 percent year-on-year growth, though December volumes were marginally lower. The weighted average price in the green day-ahead market during December stood at Rs 4.21 per unit.
About the Company
Indian Energy Exchange is India’s largest electricity trading platform, providing nationwide access to physical power, green energy and energy certificate markets. The company has been listed on the NSE and BSE since October 2017 and plays a central role in price discovery and liquidity in India’s power markets.Source:
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