The Indian Energy Exchange (IEX) has reported the highest-ever electricity trading volume of 141 billion units (BU) in the financial year (FY) 2026, an increase of 17% year-over-year (YoY).

India’s power demand grew by 1.1% YoY during the year

According to government data published in March 2026, the country’s energy consumption reached 149.56 BUs, an 1.8% YoY increase.

IEX also reported the highest-ever quarterly electricity traded volume of 39.4 BU in Q4 FY 2026, marking a 24.3% YoY jump.

In March 2026, it recorded the highest-ever monthly electricity trading volume of 13.90 BU, a 23.5% YoY increase.

Green Market

IEX Green Market, comprising the Green Day-Ahead (G-DAM) and Green Term-Ahead Market segments, achieved 10.78 BU in FY 2026, up 23% YoY from 8.75 BU.

During Q4 FY 2026, the segment achieved a volume of 2.44 BU, up 26.5% YoY from 1.92 BU.

The segment achieved 800 MU volume in March 2026, up 28.3% from 620 MU in the same month last year.

Renewable Energy Certificates (REC)

During FY 2026, 18.72 million RECs were traded, up 5% YoY, and in Q4, REC trading volume rose 6% to 7.17 million.

A total of 2.894 million RECs were traded in the trading sessions held on March 11, 2026, and March 25, 2026.

The REC traded volume in March 2026 increased by 119.9% YoY.

Electricity Market: Day-Ahead, Real-Time, and Term Ahead

For FY 2026, the market-clearing price in the Day-Ahead Market (DAM) stood at ₹3.86/kWh, a drop of 13.7% YoY, and in the Real-Time Market (RTM) at ₹3.59/kWh, a 16% YoY decline.

In March, the market-clearing price in the DAM segment was ₹4.2/kWh, down 6% YoY, while in the RTM segment it was ₹3.71/kWh, down 10.5% YoY.

Day-Ahead Market (DAM)

The DAM, including HPDAM, achieved 62.78 BU for FY 2026, up from 61.31 BU, an increase of 2.4% YoY. The DAM segment registered 19.60 BU in Q4 FY 2026, a 15.7% rise from 16.93 BU last year.

The segment achieved 6.83 BU volume in March 2026, up 23.1% YoY from 5.55 BU in March 2025.

Real-Time Market (RTM)

The RTM segment achieved 54.85 BU in FY 2026, up from 38.90 BU, a 41% surge. The segment registered 14.3 BU in Q4, up 48.2% YoY from 9.65 BU.

The RTM segment achieved 5.28 BU in March, up 41.7% from 3.73 BU from the previous year.

Day Ahead Contingency and Term-Ahead Market (TAM)

The segment traded 12.72 BU in FY 2026 from 11.77 BU, an 8% YoY jump.

The total volume of the segment during Q4 was 3.12 BU, a 3.8% YoY decline from 3.24 BU. The segment achieved 940 MU in March, down 28.5% from 1.32 BU in the same month last year.

In February, IEX recorded a total electricity trading volume of 12,550 million units, a 30.4% YoY increase, and its highest daily average volume of 448 MU.