The Indian Energy Exchange (IEX) reported a 16.6% year-on-year rise in traded electricity volumes to 12,341 million units (MU) in April 2026, as power demand surged to an all-time high of 256 GW, driven by volatile weather conditions and peak summer heat.
India’s overall energy consumption reached 154 billion units (BU) in April, up 4% year-on-year, with unseasonal rainfall early in the month followed by rising temperatures creating sharp demand swings, the exchange said. In the Day-Ahead Market (DAM), traded volumes stood at 4,624 MU in April 2026, up 8.7% from 4,254 MU a year ago, as strong demand pushed buy bids up 31% and sell bids up 35% year-on-year.
The average market clearing price was ₹5.26 per unit, up 1% YoY. However, prices fell below ₹3.5 per unit on several days due to rainfall-induced demand moderation, offering distribution companies (DISCOMs) and commercial and industrial consumers opportunities to procure power at competitive rates.
RTM records sharp growth
The Real-Time Market (RTM) recorded the sharpest growth, with volumes rising 30.2% year-on-year to 5,069 MU from 3,893 MU, reflecting increased reliance on flexible procurement. The segment also saw its highest-ever single-day trade of 250 MU on April 30. The average RTM price stood at ₹4.82 per unit, up 5.4% YoY, while prices dropped to near-zero levels during multiple time blocks due to surplus renewable energy during solar hours.
The Term-Ahead Market (TAM), including contingency and short-term contracts up to three months, recorded volumes of 1,807 MU, up 9.1% from 1,656 MU in April 2025.
In the green segment, IEX’s green market traded 841 MU in April, a 7.5% increase from 782 MU last year, with the weighted average price in the Green Day-Ahead Market declining 6.9% YoY to ₹3.79 per unit.
However, activity in the renewable energy certificate (REC) market declined sharply. A total of 1.18 lakh RECs were traded in April 2026, down 59.4% year-on-year, with trading sessions held on April 8 and April 29 clearing at ₹339 and ₹370 per REC, respectively. Sell bids fell nearly 87% YoY, while buy bids rose 42%, leading to higher clearing prices despite lower volumes.
“The month witnessed highly dynamic weather conditions… which drove electricity demand to an all-time high of 256 GW,” IEX said, adding that the RTM “underscored its growing role in enabling DISCOMs and C&I consumers to manage procurement flexibly and cost-effectively in real time.”
The next REC trading sessions are scheduled for May 13 and May 27, 2026.