Indian Energy Exchange Ltd. (IEX) achieved its highest-ever traded electricity volume of 141 billion units (BU) for the entire financial year 2026, representing a 17% increase from the previous year. According to reports from Dalal Street Investment Journal (DSIJ), the company's quarterly traded electricity volume reached 39.4 billion units, up 24.3% from the previous year. The real-time market (RTM) demonstrated strong performance with 48.2% growth from the previous year, indicating robust market activity across IEX's trading platforms. Despite rising national power demand of 1.1% during the year, improved supply liquidity on the exchange platform led to more competitive pricing for participants.
In March 2026, IEX recorded monthly traded volume of 13.9 BU, up 23.5% from the previous year, with the RTM achieving 41.7% growth from the year-ago period. As reported by DSIJ, the market clearing price in the day-ahead market was ₹4.2 per unit, down 6% from the previous year, reflecting competitive pricing dynamics in the electricity market. The company's quarterly performance showed consistent growth momentum across all trading segments, with the final quarter (Q4FY'26) setting a new benchmark with the highest quarterly volume of 39.4 BU, an increase of 24.3% YoY. The exchange also recorded its highest-ever monthly traded volume of 13.90 BU in March 2026, demonstrating sustained growth momentum throughout the fiscal year.
The IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 10.78 BU compared to 8.75 BU in FY25, representing a 23% increase from the previous year. According to the company's business update, a total of 187.2 lakh renewable energy certificates (RECs) were traded in FY26, with the REC traded volume increasing 5% from the previous year. In the fourth quarter alone, 71.7 lakh RECs were traded, up 6% from the previous year, demonstrating continued growth in green energy trading activities. The strong performance in the REC segment, with 71.70 lakh certificates traded in Q4 alone, emphasizes the growing importance of environmental markets within the exchange's portfolio. For March 2026 specifically, REC trading surged 119.9% YoY to 28.94 lakh, with clearing prices at ₹340 per REC, highlighting exceptional growth in this segment.
The improved supply liquidity on the exchange platform resulted in more competitive pricing for participants. The average price in the Day-Ahead Market (DAM) dropped to ₹3.86 per unit, a 13.7% decline over FY'25, while the RTM price settled at ₹3.59 per unit, representing a 16% reduction compared to the previous year. This pricing improvement was supported by increased contributions from wind, hydro, and solar generation, combined with consistent coal-based supply, enhancing market liquidity across all trading segments. Despite a 1.1% YoY increase in India's power demand in FY26 and a 1.8% YoY rise in March consumption to 149.56 BU, market-clearing prices declined due to higher supply liquidity on the exchange platform.
IEX shares demonstrated positive market response to the record operational performance, rising 3.23% to ₹123.60 on Monday, April 6, as reported by DSIJ. The stock movement followed the company reporting its highest-ever electricity traded volume of 141 billion units in FY26, supported by strong growth in the RTM and Green Market segments. Despite the strong operational performance, shares had previously experienced significant volatility, having nearly halved from its 52-week high of ₹215.4, indicating market sentiment may not fully reflect the company's record trading volumes and growth metrics achieved in FY26. The current positive momentum suggests improved investor confidence in the exchange's continued growth trajectory and market positioning.
