IEX reported its highest-ever monthly electricity traded volume of 13,050 million units (MU) in January ’26, registering a 19.6% year-on-year (YoY) growth. The strong performance came amid higher power availability in the system, driven by improved generation from hydro, wind, and solar sources, along with sustained coal-based supply. This enhanced supply liquidity translated into lower power prices on the exchange, encouraging higher participation from distribution companies (discoms) and commercial and industrial consumers.
According to government data released in January ’26, India’s energy consumption rose to 142.74 billion units (BUs), reflecting a 3.8% increase compared with the previous year. Higher power availability helped push down market prices across segments.
The market-clearing price in the Day-Ahead Market (DAM) stood at Rs 3.86 per unit in January ’26, down 12.9% YoY. Similarly, the Real-Time Market (RTM) clearing price declined 15.9% YoY to Rs 3.72 per unit. Lower prices created an opportunity for buyers to meet demand at competitive rates and replace relatively costlier power procurement through the exchange platform.
Segment-wise, the Day-Ahead Market recorded volumes of 6,182 MU in January ’26, compared with 6,015 MU in January ’25, reflecting a 2.8% YoY increase. The Real-Time Electricity Market continued to outperform, with traded volumes surging to 4,638 MU from 3,036 MU a year ago, translating into a sharp 52.8% YoY growth.
Meanwhile, the Day-Ahead Contingency and Term-Ahead Market (TAM), which includes contingency, daily, weekly, and monthly contracts of up to three months, clocked volumes of 1,397 MU, up 26.2% YoY from 1,107 MU.
The IEX Green Market also posted steady growth. Combined volumes from the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market reached 832 MU in January ’26, up 10.7% YoY. The weighted average price in the G-DAM declined 12.5% YoY to Rs 4.06 per unit.In the Renewable Energy Certificate (REC) segment, a total of 23.91 lakh RECs were traded during sessions held on January 14 and January 28, 2026, at clearing prices of Rs 339 per REC and Rs 333 per REC, respectively. However, REC traded volumes declined 37.1% on a year-on-year basis.
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