Indian Energy Exchange recorded a monthly electricity traded volume of 12,983 MU in May 2026, an increase of 18.6% year-on-year. The growth was driven by strong demand across market segments, with India's peak power demand surging to an all-time high of 270.82 GW during the month. The average market clearing price in the Day-Ahead Market (DAM) was ₹4.88/unit, up 18.3% YoY.

Day-Ahead and Real-Time Market Performance

The Day-Ahead Market, including HP-DAM, achieved a volume of 4,417 MU in May 2026 compared to 3,535 MU in May 2025, registering an increase of 24.9% YoY. Strong demand drove buy bids up 77% YoY, while sell bids rose by 30% YoY. The Real-Time Electricity Market (RTM) volume increased to 5,529 MU in May 2026 from 4,770 MU in May 2025, an increase of 15.9% YoY. The average RTM market clearing price stood at ₹4.16/unit, up 21.2% YoY.

Green and Term-Ahead Market Update

The Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved a volume of 1,034 MU during May 2026, an increase of 13% YoY from 915 MU in May 2025. The weighted average price in the Green Day-Ahead Market (G-DAM) was ₹3.60/unit, remaining largely flat on a year-on-year basis. The Day-Ahead Contingency and Term-Ahead Market (TAM), including HPTAM, traded 2,004 MU in May 2026, an increase of 16.1% YoY compared to 1,726 MU in May 2025.

Renewable Energy Certificates

A total of 6.10 lakh Renewable Energy Certificates (RECs) were traded in May 2026, down 65% YoY. Trading sessions were held on May 13, 2026, and May 29, 2026, with a clearing price of ₹400/REC. Sell bids declined by 85.3% YoY, leading to a rise in clearing prices. The next REC trading sessions are scheduled on June 10, 2026, and June 24, 2026.

Indian Energy Exchange has formally incorporated its wholly owned subsidiary, Indian Coal Exchange Limited, on June 1, 2026, with a Corporate Identity Number U66190DL2026PLC467125. The incorporation, disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, marks the company's formal entry into the coal trading segment. The development follows an earlier intimation dated March 18, 2026, and has been communicated to both BSE Limited and the National Stock Exchange of India.

Subsidiary at a Glance

The key details of the newly incorporated entity are summarised below:

Capital Structure and Shareholding

Indian Coal Exchange Limited has been incorporated with an authorized share capital of ₹1,00,00,00,000 (Rupees One Hundred Crores Only), divided into 10,00,00,000 (Ten Crore) equity shares of ₹10 each. The shares have been subscribed at a face value of ₹10 per equity share, with the consideration to be paid in cash. Indian Energy Exchange holds 100% of the shareholding in the incorporated entity, retaining full control over the new platform.

Regulatory Requirements

At the time of incorporation, no governmental or regulatory approvals were required for the formation of Indian Coal Exchange Limited. However, the entity will need to obtain a license or registration from the designated regulator once the Draft Coal Exchange Rules, 2025, proposed by the Ministry of Coal, are notified and come into force. This regulatory step is a prerequisite before the subsidiary can commence and carry on coal exchange operations. The disclosure was signed by Vineet Harlalka, CFO, Company Secretary & Compliance Officer of Indian Energy Exchange.

Strategic Significance

The incorporated entity is classified under the financial services industry and will operate as a structured online marketplace where buyers and sellers of coal can transact, trade, and enter into contracts. The formation of Indian Coal Exchange Limited broadens Indian Energy Exchange's portfolio beyond its existing energy trading operations. With full ownership and a defined capital base, the parent company is positioned to establish a dedicated coal trading infrastructure, subject to the operationalisation of the applicable regulatory framework.