IEX Reports Record Electricity Volumes in FY'26, Q4FY'26, and March'26 Trading Updates
Indian Energy Exchange Limited reported achieving historic trading volumes across several energy segments for the fiscal year 2026 (FY'26), the fourth quarter of FY'26 (Q4FY'26), and the month of March 2026. The exchange noted that despite an overall increase in the country's energy consumption to 149.56 BUs in March '26, power exchange prices remained lower year over year due to heightened supply liquidity on the platform.In FY'26, IEX recorded the highest ever traded electricity volume of 141 BU, marking a 17% year-on-year (YoY) increase. The Real-Time Market (RTM) also showed significant growth, achieving a 41% YoY increase.
Annual Performance Highlights for FY'26
The trading activity for FY'26 saw robust participation in renewable energy and electricity derivatives.- Renewable Energy Certificates (RECs): IEX traded a total of 187.20 lakh RECs, representing the highest annual trade volume and a 5% YoY growth.
- Market Pricing: The average Day-Ahead Market (DAM) price for FY'26 stood at Rs 3.86/unit, which was 13.7% lower compared to FY'25. Similarly, the average RTM price was Rs 3.59/unit, down 16% YoY.
For the electricity market segments, the figures compared to the previous year are as follows:
| Segment | FY'26 Volume (BU) | FY'25 Volume (BU) | YoY Change |
|---|---|---|---|
| DAM | 62.78 | 61.31 | 2.4% Increase |
| RTM | 54.85 | 38.90 | 41% Increase |
| Day Ahead Contingency and Term-Ahead Market (TAM) | 12.72 | 11.77 | 8.0% Increase |
Quarterly and Monthly Activity
Quarterly results for Q4FY'26 indicated record trading levels. The electricity traded volume reached a quarterly high of 39.4 BU, a 24.3% YoY increase. The RTM grew by 48.2% YoY, and the Green Market saw a 26.5% YoY growth. In Q4FY'26, a total of 71.70 lakh RECs were traded, up 6.1% YoY.For March 2026, the monthly electricity volume reached a record 13.90 BU, increasing 23.5% YoY. The RTM achieved a 41.7% YoY growth, and the Green Market expanded by 28.3% YoY. During March'26, 28.94 lakh RECs were traded, marking an 119.9% YoY increase.
Green Market Performance
The IEX Green Market, encompassing Green Day-Ahead and Green Term-Ahead segments, recorded 10.78 BU in FY'26, representing a 23% YoY increase from FY'25. The weighted average price in the Green Day-Ahead Market (G-DAM) for FY'26 was Rs 3.59/unit, a 10.6% decline from FY'25. In March'26, the G-DAM weighted average price was Rs 3.84/unit, declining 10.8% YoY.Details on Renewable Energy Certificate Market
The REC market saw significant transaction volume across the reporting periods. The structured data below summarizes the REC trading volumes:| Period | REC Volume Traded | YoY Change | Clearing Price |
|---|---|---|---|
| FY'26 | 187.20 lakh | 5% Increase | N/A |
| Q4FY'26 | 71.70 lakh | 6% Increase | N/A |
| March'26 | 28.94 lakh | 119.9% Increase | Rs. 340/REC |
Stock Price Movement
Indian Energy Exchange Limited shares concluded at ₹119.18, declining by ₹0.77 or 0.64% on Thursday, after trading between ₹116 and ₹119.91. The stock is currently operating within its established 52-week range of ₹114.6 to ₹215.4.Source:
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