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Indian Energy Exchange, India’s premier electricity exchange, for the second quarter of the fiscal year 2026, achieved electricity traded volume of 35,217 MU (excluding TRAS), marking a 16.1% year on year increase. Additionally, TRAS volume in Q2 FY’26 was 603 MU, as compared to 16.9 MU in Q2 FY’25. During the quarter, IEX traded 44.22 lakh renewable energy certificates recording 30% year on year decline.
During the second quarter of this financial year, increased hydro, wind, and sustained supply from coal-based generation resulted in higher supply liquidity on the exchange platform, which led to a substantial drop in DAM and RTM prices. The Market Clearing Price in the Day-Ahead Market at Rs 3.93/unit during Q2 FY’26 declined 12.5% compared to Q2 FY’25. Similarly, the Market Clearing Price in the Real-Time Market at Rs 3.51/unit during Q2 FY’26 declined 16.1% compared to Q2 FY’26. Notably, during the quarter, on 25th August 2025, heavy rains boosted supply liquidity driving the average RTM price to near zero price (Rs 0.01/kwh) discovered in a single time block (07:45 AM to 8:00 AM)
In September’25, IEX achieved monthly electricity traded volume of 11,065 MU (excluding TRAS) in September’25, marking 7.1% increase on year-on-year basis. Additionally, TRAS volume in September’25 was 289 MU, as compared to 6.7MU in September’24. A total of 6.27 lakh Renewable Energy Certificates were traded during the month, marking 39 % year on year decline.
According to government data published in September 2025, the country's energy consumption reached 145.91 BUs, representing 3.2% increase year-on-year. The Market Clearing Price in the Day Ahead Market at Rs 3.58/unit during September 2025, declined 14.5% year-on-year. Similarly, the Market clearing price in the Real Time Market at Rs 3.31/unit during September 2025, declined 16.8% year-on-year.
These prices presented an opportunity for Discoms and Commercial & Industrial consumers to meet their demand at a competitive price and to replace their costlier power by procuring through exchanges.