India's IEX Sees Surge in October Trading Volumes, Renewable Energy Certificates Soar 39%
November 4, 2025
India's leading energy marketplace posted robust October 2025 activity, with electricity trading volume at 11,233 MU, up 16.5% year over year, and Renewable Energy Certificates (RECs) totaling 6.19 lakh sold, rising 39.4% YoY.
The Green Market segment, including G-DAM and G-TAM, grew 21% year over year to 1,055 million units, and G-DAM averaged Rs 2.47 per unit.
DAM, including HPDAM, traded 4,684 MU in October 2025, up 6.7% YoY and constituting about 38.7% of total traded volumes.
Overall, the October report underscores demand-supply dynamics, price movements in DAM/RTM, and opportunities for Discoms and Commercial & Industrial customers to manage costs through exchange-based procurement.
Markets and policy watchers are encouraged to follow PSU Connect for quick updates, including MMTC Limited’s Q2 and half-year results due on November 13, 2025.
IEX is India's premier exchange for electricity, renewables, and certificates, regulated by CERC and ISO-certified for quality, information security, and environmental management; it has been listed on NSE and BSE since 2017.
October 2025 DAM average clearing price was Rs 2.67 per unit, down 32% YoY, while RTM averaged Rs 2.73 per unit, down 27.8% YoY, benefiting Discoms and C&I consumers.
The decline in DAM and RTM prices reflects higher liquidity from hydro, wind, solar, and steady coal generation, creating more competitive procurement opportunities.
Overall, October 2025 was strong for IEX, with higher renewable integration and favorable price trends supporting cost optimization for power consumers nationwide.
Term-Ahead Market (TAM) traded 911 MU in October 2025, down 27.7% YoY from 1,260 MU in October 2024, including TAM/HPTAM and other contracts.
Summary based on 6 sources
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Sources

Business Standard • Nov 4, 2025
IEX records 16.5% growth in electricity traded volume in Oct'25
The Financial Express • Nov 4, 2025
Indian Energy Exchange, Oct’25: Electricity traded volume up 16.5% YoY, electricity market prices ease on high supply
Passionate In Marketing • Nov 4, 2025
IEX Reports 16.5% Growth in October Trading