New Delhi: The average price of power in the Indian Energy Exchange’s (IEX) Day-Ahead Market (DAM) rose 149 percent to Rs 6.66 a unit in October, from Rs 2.67 a unit in October 2025, the exchange said in a statement on Tuesday. Prices rose across the exchange’s other segments as well. The average clearing price in the Real-Time Market (RTM) stood at Rs 5.78 a unit, up 112 percent year-on-year. In the Green Day-Ahead Market (G-DAM), the weighted average price rose 67 percent to Rs 4.13 a unit.
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IEX attributed the rise to power demand. India’s energy consumption touched 159.8 billion units (BU) in October, up 21.9 percent year-on-year, according to government data cited by the exchange. “This rise in power demand drove buy bids in the Day-Ahead Market up 265 percent year-on-year, resulting in an increase in prices,” IEX said.
Part of the jump came from last year’s figures. “The sharp increase was also attributable to the low base of the corresponding month last year, when power demand was relatively lower,” the statement said.
Cleared volume in the DAM fell over the same period. The DAM, including the High-Price Day-Ahead Market (HP-DAM), traded 4,508 million units (MU) in October. That was 3.8 percent lower than the 4,684 MU traded in October 2025.
Prices did not stay high through the month. “However, demand-supply dynamics remained volatile even during October,” IEX said.
In the first half of the month, warmer weather due to El Niño and below-normal monsoon rainfall kept power demand strong, according to the statement. Demand eased in the latter days of October as cooler weather, rainfall and Cyclone Arnab set in, it said. “Higher supply liquidity during periods of subdued demand resulted in near-zero prices in the Real-Time Market (RTM) across multiple time blocks,” the exchange said.
Total electricity traded on IEX reached 13,092 MU, or 13.1 BU, in October. That was an increase of 16.5 percent year-on-year.
The RTM accounted for the largest share of that growth. Its volume rose 23.7 percent to 5,670 MU, from 4,583 MU in October 2025. RTM traded more power than the DAM during the month.
Trade in longer contracts more than doubled. The Day-Ahead Contingency and Term-Ahead Market (TAM) traded 2,175 MU, up 138.8 percent from 911 MU. The segment covers the High-Price Term-Ahead Market (HP-TAM), intraday, contingency, daily and weekly contracts, and monthly contracts of up to three months.
The IEX green market moved the other way on volume. The Green Day-Ahead and Green Term-Ahead Market segments together traded 738 MU in October. That was 30 percent lower than the 1,055 MU traded a year earlier, even as the G-DAM price rose 67 percent.
Trade in renewable energy certificates (RECs) rose 97.5 percent year-on-year to 12.22 lakh certificates. The exchange held two trading sessions. RECs cleared at Rs 338 each on October 14 and at Rs 330 each on October 28.
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The next REC trading sessions are scheduled for November 11 and November 25, IEX said.