Real-time market volume up 27% on-year in January as demand surges amid pick up in industrial activity

The third-warmest January in 125 years and industrial activity lifted demand for electricity ~2.2% on-year to ~138 billion units (BU) in the first month of 2025.

The India Meteorological Department said the all-India mean temperature in January was 0.94^oC higher than the average of 18.04^oC seen since 1901.

Typical heating requirements, a key driver of power demand, was subdued this time because of warmer and drier weather conditions.

The effects of this percolated to the short-term power market.

Real-time market (RTM) volume surged 27% on-year to 3,036 million units (MUs), while the day-ahead market (DAM) spiked 8% to 6,015 MU. Overall RTM volume at the Indian Energy Exchange (IEX) rose 400 basis points to 26% on-year in January.