IEX recorded highest ever yearly trade of RECs in FY’25
A total of 178 lakh Renewable Energy Certificates were traded during the year, marking 136 % year-on-year increase.
New Delhi, 04 April 2025: Indian Energy Exchange, India’s premier electricity exchange, achieved highest ever electricity traded volume of 121 BUs in FY’25, registering an increase of 19% on YoY basis. IEX recorded highest-ever yearly trade of RECs in FY’25. A total of 178 lakh Renewable Energy Certificates were traded during the year, marking 136 % year-on-year increase.
During FY’25, the country’s power demand grew by 4.4% on a year-on-year basis. Given the increase in demand, the Ministry of Power took proactive measures throughout the year to enhance power supply like extending the directive for imported coal-based power plants to operate at full capacity, sale of surplus un-requisitioned power on power exchanges, ensuring the availability of gas-based plants and higher availability of generating units to meet peak demand.
These measures along with ample availability of coal with coal inventory around 21 days and no loss of generation, in the fiscal year 2025, ensured sufficient supply liquidity in the system. During the year, the sell liquidity in the DAM segment increased by 36% on a year-on-year basis, thereby keeping power prices competitive on the exchange. For FY’25, the market clearing price in the Day Ahead Market was at Rs. 4.47/unit, as compared to Rs 5.24/unit in FY’24, marking a decline of 15% YoY
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For Q4FY’25, IEX achieved its highest quarterly electricity traded volume of 31,747 MU, marking an 18% year-on-year increase. IEX also recorded its highest quarterly trade of RECs in Q4FY’25. A total of 68 lakh Renewable Energy Certificates were traded during the quarter, marking a 108% year-on-year increase. The Market Clearing Price in the Day-Ahead Market, at Rs. 4.43/unit during Q4FY’25, declined 9% year on year.
For the month of March 2025, IEX achieved its highest-ever monthly electricity traded volume of 11,215 MU, marking a 29% increase on a year-on-year basis. A total of 13 lakh Renewable Energy Certificates were traded during the month, marking an 18% year-on-year increase.
According to government data published in March '25, the country's energy consumption reached 148 BUs, an increase of 7% compared to the previous year. On March 11, 2025, peak demand reached 235 GW, surpassing the maximum peak demand of 222 GW recorded in March 2024. Despite the increase in power demand, the average market clearing Price in the Day Ahead Market during March’25 was Rs. 4.47/unit due to increased supply.
ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET
The Day-Ahead Market (DAM) achieved 5,547 MU volume in March’25 as compared to 4,654 MU volume in March’24, an increase of 19% YoY. DAM segment registered 16,931 MU during Q4FY'25, as compared to 14,916 MU in Q4FY’24, registering an increase of 14% on YoY basis.
The segment achieved 61,311 MU for FY’25, as compared to 53,353 MU in FY’24, registering an increase of 15% on YoY basis.
The Real-Time Electricity Market (RTM) volume increased to 3,727 MU in March’25, from 2,786 MU in March'24, registering an increase of 34% on YoY basis. The RTM segment registered 9,650 MU during Q4FY'25, as compared to 7,505 MU in Q4FY’24, registering an increase of 29% on YoY basis. The segment achieved 38,896 MU for FY’25, as compared to 30,125 MU in FY’24, registering an increase of 29% on YoY basis.
Day Ahead Contingency and Term-Ahead Market (TAM), comprising of contingency, daily & weekly and monthly contracts up to 3 months, traded 1,320 MU during March’25, an increase of 64% on YoY basis. The total volume on the segment during Q4FY’25 was 3,241 MU, decline of 8% over Q4FY’24. For FY’25, the segment achieved 11,760 MU, decline of 21% on YoY basis.
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IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 621 MU volume during March’25 as compared to 426 MU in March’24, registering an increase of 46% YoY. During Q4FY’25, the segment achieved volume of 1,925 MU, an increase of 100% over Q4FY’24. For the FY’25, the segment achieved 8,746 MU, an increase of 171% on YoY basis. The weighted average price in Green Day-Ahead Market (GDAM) for FY’25 was Rs 4.01/unit
RENEWABLE ENERGY CERTIFICATE MARKET (REC MARKET)
A total of 13 lakh RECs were traded in the trading sessions held on 12th March’25 and 26th March’25, at a clearing price of Rs. 348/REC and Rs. 347/REC respectively. REC traded volume in March’25 increased by 18% on YoY basis. 68 lac RECs were traded during Q4FY’25. REC traded volume in Q4FY’25 increased by 108% on YoY basis.
178 lac RECs were traded during FY’25. REC traded volume in FY’25 increased by 136% on YoY basis. The next REC trading sessions at the Exchange are scheduled on 09th April’25 and 30th April’25.
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