The Indian Energy Exchange (IEX) reported a monthly electricity traded volume of 10,584 million units (MUs) in April 2025, a 26% year-on-year (YoY) growth.

The growing traded volumes come amid the rising power demand across the country. According to government data published in April this year, India’s overall energy consumption rose to 147.5 billion units (BUs), increasing 2.2% from April 2024.

The nation’s peak power demand also hit a new high of 235 GW in April 2025, exceeding the previous record of 224 GW set in April 2024.

Green Market

The green market, consisting of the green day-ahead market (G-DAM) and the green term-ahead market, achieved a total volume of 782 MU during April 2025, a 95% YoY increase from 402 MU.

The average G-DAM price for April 2025 was ₹4.07 (~$0.048)/kW.

Renewable Energy Certificate Market

In the renewable energy certificate (REC) market, 290,000 RECs were traded across two sessions held on April 9 and 30. The clearing prices were ₹300 (~$3.56)/REC and ₹350 (~$4.15)/REC, respectively.

The next REC trading sessions on IEX are scheduled for May 14 and 28, 2025.

Electricity Market: Day-ahead, Real-time, and Term Ahead

Despite the increased demand, the average market-clearing price in the day ahead market (DAM) during April 2025 remained stable at ₹5.20 (~$0.062)/kW, maintaining parity with the average price recorded in April 2024.

Anticipating a further increase in peak power demand, which is expected to cross 270 GW in the financial year (FY) 2026, the government enforced several measures, including the compulsory operation of imported coal and gas-based projects, alongside enhancing coal availability.

The DAM recorded a volume of 4,231 MU in April 2025, a 3% growth over the 4,116 MU traded in April 2024.

The real-time market increased significantly in activity, with volumes rising to 3,893 MU, a 48% YoY growth from 2,629 MU.

The term-ahead market, which includes the day-ahead contingency, daily and weekly contracts, and monthly contracts of up to three months, achieved a trading volume of 1,639 MU in April 2025, rising 28% from 1,276 MU in April 2024.

IEX reported a consolidated profit after tax of ₹1.17 billion (~$13.7 million) in the fourth quarter of FY 2025, a 21.1% YoY increase from ₹967 million (~$11.3 million).

The power exchange achieved its highest-ever electricity traded volume of 121 billion units in FY 2025, a 19% YoY increase.