Indian Energy Exchange (IEX), India’s premier electricity exchange, recorded a monthly electricity traded volume of 12,341 MUs in April 2026, a robust 16.6% increase year-on-year. A total of 1.18 lakh Renewable Energy Certificates were traded during the month, though REC volumes declined 59.4% year-on-year.
India’s energy consumption touched 154 BUs in April 2026, up 4% year-on-year. The month witnessed highly dynamic weather conditions, ranging from unseasonal rainfall to peak summer heat, which drove electricity demand to an all-time high of 256 GW.
In the Day-Ahead Market, strong demand drove buy bids up 31% year-on-year, while sell bids rose sharply by 35% YoY. Due to an increase in power demand, the average market-clearing price stood at Rs. 5.26/unit, a 1% increase year-on-year. However, unseasonal rainfall during the initial days of April moderated demand and kept DAM prices below Rs. 3.5/unit on several days, presenting DISCOMs and C&I consumers with an opportunity to procure power at highly competitive rates and optimise their procurement costs.
The Real-Time Market mirrored this trend, with prices touching near-zero levels across multiple time blocks during the month, driven by surplus renewable energy during solar hours. The average RTM market-clearing price stood at Rs. 4.82/unit, up 5.4% year-on-year. Notably, RTM recorded its highest-ever single-day trade of 250 MUs on April 30, underscoring its growing role in enabling DISCOMs and C&I consumers to manage procurement flexibly and cost-effectively in real time.
ELECTRICITY MARKET: DAY- AHEAD, TERM-AHEAD & REAL-TIME MARKET
The Day-Ahead Market (DAM), including HP-DAM, achieved 4,624 MU volume in April’26 as compared to 4,254 MU volume in April’25, an increase of 8.7% YoY.
The Real-Time Electricity Market (RTM) volume increased to 5,069 MU in April’26, from 3,893 MU in April’25, registering an increase of 30.2% YoY.
Day Ahead Contingency and Term-Ahead Market (TAM), including HPTAM, comprising contingency, daily & weekly, and monthly contracts up to 3 months, traded 1,807 MU in April ’26 as compared to 1,656 MU volume in April’25, an increase of 9.1% YoY.
GREEN MARKET: GREEN DAY-AHEAD & GREEN TERM-AHEAD MARKET
IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 841 MU volume during April’26 as compared to 782 MU in April’25, an increase of 7.5% YoY. The weighted average price in Green Day-Ahead Market (G-DAM) for April’26 at Rs 3.79/ unit decreased 6.9% YoY.
RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)
A total of 1.18 lakh RECs were traded in April ’26, down 59.4% YoY. Trading sessions were held on 8th April ’26 and 29th April ’26, with clearing prices of Rs 339/REC and Rs 370/REC, respectively. Sell bids declined by nearly 87% YoY, while buy bids increased by 42% YoY, leading to a rise in clearing prices during April,2026.
