Indian Energy Exchange (IEX) is set to face proceedings before the Electricity Tribunal, with a significant hearing date scheduled for October 30, 2025. This development marks an important milestone in the ongoing legal process involving IEX and multiple respondents.

Key Details of the Tribunal Proceedings

Implications for Stakeholders

The Electricity Tribunal has outlined specific requirements for both IEX and the respondents involved in this case:

1. Respondents' Obligations: All respondents are mandated to submit their replies to IEX's request prior to the scheduled hearing date. This requirement ensures that all parties have the opportunity to present their positions before the tribunal convenes.

2. IEX's New Plea: The tribunal has directed IEX to file a new plea. This updated submission is expected to incorporate additional respondents in the case, potentially broadening the scope of the proceedings.

Significance of the Timeline

The extended timeline, with the hearing set for October 2025, suggests that this is a complex case requiring thorough preparation and possibly involving multiple stakeholders in the energy sector. This extended period allows all parties ample time to prepare their cases and responses.

Potential Impact

While the specific details of the case are not disclosed, proceedings at the Electricity Tribunal can have significant implications for the energy trading sector in India. As IEX plays a crucial role in the country's power trading market, the outcome of these proceedings could potentially influence energy trading practices and regulations.

Stakeholders in the energy sector, including power generators, distributors, and large consumers, will likely be watching this case closely as it unfolds over the coming years. The inclusion of additional respondents in IEX's new plea may also indicate the wide-reaching nature of the issues being addressed.

As the case progresses, more details may emerge about the nature of the proceedings and their potential impact on IEX and the broader energy market in India. Market participants and industry observers will need to stay informed about any developments in this case leading up to the October 2025 hearing.

Indian Energy Exchange (IEX), India's premier electricity exchange, has reported a significant increase in its electricity trading volume for the second quarter of fiscal year 2026. The company's performance highlights its growing importance in India's power trading landscape.

Q2FY26 Performance Highlights

IEX achieved an electricity trading volume of 35,217 Million Units (MU) in Q2FY26, marking a substantial 16.1% year-over-year growth. This growth underscores the exchange's expanding role in facilitating power trading across the country.

Key performance metrics for Q2FY26 include:

Pricing Trends

The increased supply liquidity on the exchange platform, driven by higher hydro, wind, and sustained coal-based generation, led to a notable decrease in prices:

These competitive prices present an opportunity for Discoms and Commercial & Industrial consumers to meet their demand cost-effectively.

September 2025 Performance

In September 2025, IEX continued its growth trajectory:

• Monthly electricity traded volume reached 11,065 MU, a 7.1% year-on-year increase.
• The Real-Time Market saw a remarkable 22.3% year-on-year growth.
• The Green Market achieved an impressive 50% year-on-year growth.

Market Segment Analysis

Day-Ahead Market (DAM)

Including HPDAM, this segment registered 14,534 MU during Q2FY26, a 1.4% increase over Q2FY25. It accounted for 36.1% of the total traded volumes in Q2FY26.

Real-Time Electricity Market (RTM)

This segment showed exceptional growth, registering 14,925 MU during Q2FY26, a 39.1% increase over Q2FY25. It represented 37.1% of the total traded volumes.

Green Market

Comprising Green Day-Ahead and Green Term-Ahead segments, this market achieved 3,040 MU in Q2FY26, growing by 17.7% year-on-year.

Renewable Energy Certificate (REC) Market

A total of 44.22 lakh RECs were traded during Q2FY26, showing a 29.8% year-on-year decline.

The robust performance across various segments, particularly in the Real-Time and Green markets, reflects IEX's pivotal role in India's evolving energy landscape. The significant growth in trading volumes, coupled with more competitive pricing, indicates a maturing market that's increasingly efficient in meeting the country's diverse energy needs.

As India continues to focus on renewable energy integration and grid flexibility, IEX's platform is proving to be instrumental in facilitating seamless power trading and supporting the nation's energy transition goals.