The Indian Energy Exchange (IEX) reported strong growth in electricity trading volumes across several market segments during the second quarter and first half of fiscal year 2027, supported by rising power demand and increased participation in short-term electricity markets. The exchange recorded a total electricity traded volume of 77.2 billion units (BUs) during H1 FY27, registering a 14.2% year-on-year increase.
During Q2 FY27, electricity trading volumes reached 39.7 BUs, representing 12.7% growth compared to the corresponding quarter of the previous financial year. The increase was supported by strong national electricity consumption, which reached 502 BUs during the quarter, up 11.5% year-on-year. The Real-Time Market (RTM) contributed 16.5 BUs to the quarterly trading volume, recording 10.5% growth compared to Q2 FY26.
Electricity prices also increased during the quarter amid higher demand. The average market clearing price in the Day-Ahead Market (DAM) stood at ₹5.7 per unit, marking a 46% year-on-year increase. Similarly, the average price in the Real-Time Market rose by 49% to ₹5.2 per unit.
In September 2026, IEX recorded an electricity traded volume of 12.2 BUs, registering 10.4% growth compared to September 2025. India’s power demand remained elevated during the month, with peak electricity demand reaching 269 GW on September 10, while total energy consumption stood at 162 BUs. Strong demand also resulted in a 281% year-on-year increase in buy bids in the Day-Ahead Market.
Consequently, average market clearing prices increased significantly in September. The DAM recorded an average price of ₹7.3 per unit, up 105% year-on-year, while the RTM price increased by 108% to ₹6.9 per unit. The RTM segment also achieved its highest-ever single-day trading volume of 315 million units (MU) on September 26, 2026.
Among individual market segments, the Day-Ahead Market, including high-price segments, recorded 14,855 MU during Q2 FY27, representing 2.2% growth year-on-year. Its September trading volume stood at 4,251 MU. The Term-Ahead Market (TAM), covering intraday, contingency and daily-to-monthly contracts, registered stronger growth, with volumes reaching 5,477 MU during the quarter, an increase of 101.5% compared to the previous year.
However, the Green Market segment experienced a decline. Trading volumes across green day-ahead and green term-ahead contracts stood at 2,863 MU during Q2 FY27, down 5.8% year-on-year. September volumes reached 737 MU.
The Renewable Energy Certificate (REC) market also witnessed lower activity, with 15.27 lakh certificates traded during Q2 FY27, registering a 65.5% decline compared to the same period last year. Further REC trading sessions are scheduled to facilitate continued market participation.
The overall performance highlights growing electricity trading activity at IEX, supported by rising power consumption and demand for short-term electricity procurement.
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