India's IEX Sees Surge in October Trading Volumes, Renewable Energy Certificates Soar 39%

November 4, 2025
India's IEX Sees Surge in October Trading Volumes, Renewable Energy Certificates Soar 39%
  • 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


Get a daily email with more Financial Markets stories

More Stories