IEX Achieves Record Highest Traded Electricity Volume Of 141 BU In FY26, Up 17% YoY
Indian Energy Exchange Limited reported record-breaking FY26 performance with highest ever annual electricity traded volume of 141 BU, marking 17% year-on-year growth. The Real-Time Market segment delivered exceptional 41% growth while Green Market expanded 23%. Q4FY26 achieved highest quarterly volume of 39.4 BU with 24.3% growth, though pricing remained under pressure due to enhanced supply liquidity.

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Indian Energy Exchange Limited has announced record-breaking performance across multiple market segments for FY26, achieving its highest ever annual electricity traded volume of 141 BU with a 17% year-on-year growth. The company's diversified market portfolio demonstrated robust expansion, with the Real-Time Market leading growth at 41% and the Green Market segment advancing 23% during the fiscal year.
Annual Performance Highlights
The exchange's FY26 performance reflects strong market dynamics despite challenging pricing conditions. Key achievements include the highest ever yearly trade of Renewable Energy Certificates at 187.20 lakh RECs, marking a 5% year-on-year increase.
| Performance Metric: | FY26 | Growth (YoY) |
|---|---|---|
| Total Electricity Volume: | 141 BU | +17% |
| RTM Growth: | - | +41% |
| Green Market Growth: | - | +23% |
| REC Trading Volume: | 187.20 lakh RECs | +5% |
| Average DAM Price: | Rs 3.86/unit | -13.7% |
| Average RTM Price: | Rs 3.59/unit | -16% |
Market Segment Performance
The Day-Ahead Market (DAM) including HPDAM achieved 62.78 BU for FY26, compared to 61.31 BU in FY25, registering a 2.4% year-on-year increase. The Real-Time Electricity Market (RTM) delivered exceptional growth, achieving 54.85 BU for FY26 compared to 38.90 BU in FY25, representing a 41% year-on-year increase.
The Day Ahead Contingency and Term-Ahead Market (TAM), comprising HPTAM, contingency, daily, weekly and monthly contracts up to 3 months, traded 12.72 BU in FY26 compared to 11.77 BU in FY25, registering an 8.0% year-on-year increase.
Green Market and REC Trading
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 10.78 BU compared to 8.75 BU in FY25, marking a 23% year-on-year increase. The weighted average price in Green Day-Ahead Market (G-DAM) for FY26 at Rs 3.59/unit declined 10.6% compared to FY25.
The Renewable Energy Certificate market maintained steady growth with 187.20 lakh RECs traded during FY26, representing a 5% year-on-year increase.
Quarterly and Monthly Records
Q4FY26 delivered outstanding performance with the highest ever quarterly electricity traded volume of 39.4 BU, marking a 24.3% year-on-year increase. The quarter also recorded the highest quarterly trade of RECs at 71.70 lakh certificates, showing 6.1% year-on-year growth.
| Q4FY26 Performance: | Volume | Growth (YoY) |
|---|---|---|
| Total Electricity Volume: | 39.4 BU | +24.3% |
| RTM Growth: | - | +48.2% |
| Green Market Growth: | - | +26.5% |
| REC Trading: | 71.70 lakh RECs | +6.1% |
March 2026 set a new monthly record with 13.90 BU electricity traded volume, representing a 23.5% year-on-year increase. The month witnessed exceptional REC trading activity with 28.94 lakh certificates traded, marking a remarkable 119.9% year-on-year increase.
Market Dynamics and Pricing
Despite volume growth, pricing remained under pressure due to enhanced supply liquidity from improved wind, hydro and solar generation along with sustained coal-based supply. The country's power demand grew by 1.1% year-on-year during FY26, while energy consumption reached 149.56 BUs in March 2026, showing 1.8% growth compared to the previous year.
For March 2026, the Day Ahead Market clearing price at Rs 4.20/unit declined 6% year-on-year, while the Real Time Market price at Rs 3.71/unit declined 10.5% year-on-year, reflecting the impact of higher supply availability on the exchange platform.
Historical Stock Returns for Indian Energy Exchange
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.64% | +3.68% | +3.82% | -10.64% | -29.12% | +10.79% |
How will IEX's expansion strategy evolve to sustain the 41% RTM growth momentum amid increasing competition from other power exchanges?
What impact could potential regulatory changes in India's renewable energy policy have on IEX's Green Market segment growth trajectory?
Will the sustained pricing pressure from improved renewable generation capacity force IEX to diversify into new trading products or geographical markets?


































