IEX Power Trade Climbs 2.8% in Dec Despite Day-Ahead Market Drop

ENERGY
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AuthorRiya Kapoor|Published at:
IEX Power Trade Climbs 2.8% in Dec Despite Day-Ahead Market Drop
Overview

Indian Energy Exchange (IEX) reported a 2.8% year-on-year increase in total electricity traded volumes to 11.44 billion units for December 2025. Growth was propelled by a significant surge in Real-Time Market (RTM) and Term-Ahead Market (TAM) volumes, offsetting a 11.6% decline in the crucial Day-Ahead Market (DAM). Green market and Renewable Energy Certificate (REC) volumes saw a downturn.

IEX December Volumes Show Mixed Signals

Indian Energy Exchange (IEX) posted a 2.8% year-on-year gain in total electricity traded volumes, reaching 11.44 billion units for December 2025. This overall increase masks a significant divergence in market segment performance.

Day-Ahead Market Slips

The exchange's flagship Day-Ahead Market (DAM) saw volumes fall 11.6% compared to December 2024, recording 5,899 million units. This segment typically reflects real-time demand and supply dynamics, and its decline suggests cautious participation or alternative procurement methods being used by market participants.

Real-Time and Term-Ahead Markets Surge

In contrast, the Real-Time Electricity Market (RTM) demonstrated robust growth, with traded volumes jumping 20.5% year-on-year to 3,833 million units. Activity in the Day-Ahead Contingency and Term-Ahead Market (TAM) also experienced a substantial boost, surging 87% to 931 million units. This indicates increased demand and trading in more flexible and longer-term contracts.

Green Market and RECs Face Headwinds

Volumes in the IEX Green Market, encompassing the Green Day-Ahead Market (G-DAM) and Green Term-Ahead Market, recorded 777 million units, a marginal 0.5% decrease year-on-year. The weighted average price in the Green Day-Ahead Market settled at ₹4.21 per unit. Activity in the Renewable Energy Certificate (REC) Market remained notably subdued, with traded volumes declining sharply by 53.7% year-on-year. Approximately 7.7 lakh RECs were traded across sessions held in late December 2025 at clearing prices of ₹359 and ₹345 per REC.

Stock Performance

Shares of Indian Energy Exchange concluded Monday, January 5, with a modest gain of 0.05%, closing at ₹134.43 on the National Stock Exchange (NSE).

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