IEX Posts Record Traded Volumes Of 141 BU In FY26, Up 17% YoY

The Indian Energy Exchange (IEX) reported record electricity trading volumes for FY26, even as prices declined across key segments. The exchange traded 141 billion units (BU) during the year, up 17% year-on-year. At the same time, the average market-clearing price in the day-ahead market fell 13.7% to ₹3.86 per unit, while real-time market prices dropped 16% to ₹3.59 per unit.

India’s power demand rose 1.1% during the year, indicating that supply growth outpaced consumption.

At 11:32 AM on Monday, 6 April, IEX shares were trading at 122.30, up 2.41%. The stock remains below its 52-week high of ₹215.4.

What Drove The Increase In Traded Volumes?

The main driver was the real-time electricity market. This saw an increase in volumes by 41% year-on-year to 54.85 BU in FY26 from 38.90 BU in FY25. In real-time markets, parties are allowed to trade electricity nearer its delivery date to ensure they handle fluctuations in demand.

The day-ahead market maintained its position as the largest market segment with growth by 2.4% to reach 62.78 BU compared to 61.31 BU recorded in FY25.

For Q4FY26, the total traded volume was 39.4 BU, registering a growth of 24.3% on an annual basis. The March volume was at 13.9 BU, growing by 23.5% on an annual basis.

The green market segment also expanded. Volumes rose to 10.78 BU in FY26 from 8.75 BU in FY25, a 23% increase.

Why Did Electricity Prices Decline?

The decline in prices was linked to the higher availability of power.

Electricity generation from renewable sources such as solar, wind, and hydro increased during the year. Coal-based generation also remained stable. It ensured a higher supply on the exchange platform.

However, the average price in the day-ahead market fell to ₹3.86 per unit for FY26. Prices in the real-time market fell to ₹3.59 per unit.

Total power consumption stood at 149.56 BU, up by 1.8% from the previous year. But the prices remained low, as prices in the day-ahead market in March 2026 were at ₹4.20 per unit (a decrease by 6% year on year) and in the real-time market at ₹3.71 per unit (a decrease by 10.5% year on year).

The data indicate that supply remained sufficient even during periods of higher consumption.

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How Did REC Trading Perform In FY26?

Trading of Renewable Energy Certificates (RECs) saw an increase in FY26. There were 187.2 lakh RECs that changed hands in FY26, a 5% YoY increase. During Q4FY26, there were 71.7 lakh RECs that changed hands, a year on year increase of 6%. In March alone, total REC trading volume was 28.94 lakh units, up by 119.9% from last year.

From the above, it can be seen that although trading volume has been increasing, lower prices might affect the revenues going forward.

Sources:

Business Standard

CNBC TV18