IEX Logs Record 141 BU Power Trade in FY26 Amid Price Correction

The Indian Energy Exchange (IEX) achieved its highest-ever electricity traded volume of 141 billion units (BU) in FY26, up 17% YoY, despite sluggish demand growth of just 1.1%. The surge was driven by a significant rise in supply liquidity from wind, solar, hydro, and coal-based generation, leading to a sharp correction in spot prices. Market Clearing Price fell 13.7% to ₹3.86/unit in the Day-Ahead Market and 16% to ₹3.59/unit in the Real-Time Market (RTM), where volumes surged 41% YoY to 54.85 BU, reflecting growing reliance on flexible procurement. Q4FY26 also set records with 39.4 BU traded, while March alone saw 13.90 BU exchanged — a 23.5% increase. Renewable Energy Certificates (RECs) soared, with 187.2 lakh RECs traded in FY26 (+5%) and 28.94 lakh in March — up 119.9%, clearing at ₹340 per REC. The green market grew 23% to 10.78 BU, even as green power prices declined 10.6%. Government data confirmed the trend: consumption rose only 1.8%, but oversupply kept exchange prices low. This shift underscores India’s evolving short-term power market — marked by rising renewable integration, increased trading flexibility, and price competitiveness — positioning IEX as a key enabler of efficient, transparent energy transactions. Maybe volume growth along with other exchanges like Gas exchange etc revive fortunes for IEX which has been hammered due to the coupling news last year.