Indian Energy Exchange (IEX) reported a strong jump in electricity trading volumes in February even as power prices declined on the exchange. The volume growth was strong across most segments supported by improved supply liquidity and competitive prices on the exchange platform.
In February 2026, India’s energy consumption reached 133 billion units (BUs), increasing 1.9% year-on-year (YoY) as compared to the previous year. Despite this, the exchange recorded a total traded volume of 12,550 million units (MU) during the month, up 30.4% YoY, due to higher supply liquidity.
It also achieved its highest-ever daily average traded volume of 448 MU.
Power prices decline despite rise in consumption
The market clearing price in the Day-Ahead Market (DAM) stood at Rs 3.58 per unit in February, down 18.3% YoY. The Real-Time Market (RTM) price came in at Rs 3.59 per unit, down 18.7% from last year.
“These prices presented an opportunity for Discoms and Commercial & Industrial consumers to meet their demand at a competitive price and to replace their costlier power by procuring through exchanges.” IEX said in the regulatory filing.
Real-Time Market sees sharpest growth
The Day-Ahead Market recorded a traded volume of 6,588 MU in February, up 22.7% from 5,369 MU in February 2025.
The Real-Time Market posted the strongest growth. Volumes rose 51.7% YoY to 4,379 MU from 2,887 MU in February 2025.
However, volumes in the Term-Ahead Market, which includes contingency, daily, weekly and monthly contracts up to three months, declined 4.7% year-on-year to 775 MU.
Green market volumes surge
The IEX Green Market, which includes the Green Day-Ahead and Green Term-Ahead segments, recorded a volume of 808 MU in February. This marks a 46.3% YoY rise compared with 552 MU in February 2025.
The weighted average price in the Green Day-Ahead Market stood at Rs 3.43 per unit, down 25.3% YoY.
REC trading rises 15%
A total of 18.86 lakh renewable energy certificates (RECs) were traded during the month, up 15.2% YoY.
The exchange conducted REC trading sessions on February 11 and February 25 at clearing prices of Rs 333 per REC and Rs 337 per REC, respectively. The next sessions are scheduled for March 11 and March 25.