Indian Energy Exchange Hits Record 13,050 MU In January’26, 19.6% Higher YoY, Trades 23.91 Lakh Renewable Energy Certificates

The Indian Energy Exchange (IEX), India’s leading electricity trading platform, recorded its highest-ever monthly electricity trading volume in January 2026, reaching 13,050 million units (MU). This represented a 19.6 percent increase compared to the same month last year. During this period, a total of 23.91 lakh Renewable Energy Certificates (RECs) were also traded on the platform. According to government data published in January 2026, India’s overall energy consumption reached 142.74 billion units (BUs), marking a 3.8 percent rise over the previous year. This growth was supported by enhanced generation from hydro, wind, and solar sources, along with continued supply from coal-based generation.

The resulting increase in supply liquidity on the exchange platform led to a significant decline in electricity prices on both the Day-Ahead Market (DAM) and Real-Time Market (RTM). The market clearing price in the Day-Ahead Market stood at Rs. 3.86 per unit during January 2026, down 12.9 percent year-on-year, while the Real-Time Market price declined 15.9 percent to Rs. 3.72 per unit. These reduced prices provided an opportunity for distribution companies as well as commercial and industrial consumers to procure power at competitive rates, helping them replace costlier sources with electricity purchased through the exchange.

The Day-Ahead Market achieved a trading volume of 6,182 MU in January 2026, compared to 6,015 MU in January 2025, reflecting a 2.8 percent increase. The Real-Time Electricity Market experienced a significant surge, with volumes rising to 4,638 MU, up from 3,036 MU in January 2025, registering a 52.8 percent year-on-year increase. The Day-Ahead Contingency and Term-Ahead Market (TAM), which includes contingency, daily, weekly, and monthly contracts of up to three months, traded 1,397 MU in January 2026, compared to 1,107 MU in January 2025, representing a 26.2 percent growth.

In the green energy segment, the IEX Green Market, which includes the Green Day-Ahead and Green Term-Ahead Market segments, recorded a volume of 832 MU in January 2026, up from 752 MU in January 2025, reflecting a 10.7 percent increase. The weighted average price in the Green Day-Ahead Market during January 2026 was Rs. 4.06 per unit, down 12.5 percent compared to the same month the previous year.

In the Renewable Energy Certificate (REC) market, 23.91 lakh RECs were traded during sessions held on January 14 and January 28, 2026, at clearing prices of Rs. 339 and Rs. 333 per REC, respectively. Despite this strong trading activity, REC volumes in January 2026 declined by 37.1 percent year-on-year. The next REC trading sessions on the exchange are scheduled for February 11 and February 25, 2026. Overall, January 2026 marked a milestone for the Indian Energy Exchange, reflecting strong growth in electricity trading volumes, increased participation in green energy markets, and opportunities for consumers to access power at competitive rates while supporting India’s transition to renewable energy.