Indian Energy Exchange Clocks Record Trade In March

Indian Energy Exchange Ltd. posted its highest-ever monthly electricity trade in March, with volumes rising 29% on year to 11.22 billion units. The exchange also traded 1.30 million renewable energy certificates during the month, up 18% on year, the company said in a filing on Friday.

For the March quarter, electricity traded volumes rose 18% on year to 31.75 billion units, another record. The number of renewable energy certificates traded during the period more than doubled to 6.80 million. The average market clearing price in the day-ahead market fell 9% on year to ₹4.43 per unit.

In the financial year ended March 2025, IEX achieved a record annual volume of 121 billion units, up 19% on year. The exchange also posted its highest-ever yearly renewable certificate trade, with volumes at 17.80 million, up 136%.

Sell-side liquidity in the day-ahead market segment rose 36% on year, helping keep prices competitive despite a rise in power demand.

India’s electricity consumption rose 7% on year to 148 billion units in March, while peak demand hit 235 gigawatts on March 11, surpassing the previous record of 222 gigawatts. Despite this surge, average market clearing prices for March and the full year came in at ₹4.47 per unit, down from ₹5.24 the previous year, the exchange said.

In March, the day-ahead market recorded a volume of 5.55 billion units, up 19% on year, while the real-time electricity market rose 34% to 3.73 billion units. The day-ahead contingency and term-ahead market—which includes daily, weekly, and monthly contracts up to three months—posted 1.32 billion units in traded volume, up 64%.

The green market, which includes both green day-ahead and term-ahead segments, saw March volumes rise 46% on year to 621 million units. During the quarter, green day-ahead volumes doubled on year to 1.93 billion units at an average price of ₹4.01 per unit. For the year, green market volumes rose 171% to 8.75 billion units.

The next trading sessions for renewable energy certificates are scheduled for April 9 and April 30.