96 blocks, day-ahead and real-time
| Midday-to-evening spread, day-ahead | – |
| Real-time vs day-ahead, daily average | – |
| Highest block, day-ahead | – |
| Lowest block, day-ahead | – |
Energy Intelligence for India
Smarter decisions for every unit of power.
Market data, research and strategies for India's power exchanges, and the tools to turn them into returns for your plant or battery.
Now trading in India: block – of 96 · IST
Three ways into India's power market
Zoltiq turns the exchange's public data into something you can act on: what happened, what it means, and what would have earned the most.
Yesterday on the exchange
Every morning, the day before on one sheet. Pick a document to see it.
–
per MW in the month, earned by the reference 2-hour battery on IEX day-ahead, planning each day on the last 7 days' prices
| Power | 100 MW |
| Energy | 200 MWh |
| Round-trip efficiency | 87% |
| Market | Day-ahead, 1 cycle a day |
From leased asset to market player
Most Indian batteries today are rented to a discom for a fixed monthly fee. The buyer decides when they charge, and keeps whatever the price swings are worth.
We look at why that is changing: the widening gap between solar-hour and evening prices, the ancillary services batteries can now sell, the first merchant projects, and the risks.
For an example battery
| Asset | Battery storage |
| Capacity | 100 MW / 200 MWh |
| Market | IEX day-ahead |
| Best possible, last 12 months | – |
| Planned on last week's prices | – |
| Also correcting in real-time | – |
| Fixed 11:00 / 18:00 schedule | – |
After exchange fees and wear, before transmission charges and O&M. Backtested results are not a guarantee of future returns.
Get your free estimate →Latest research
Short notes, one question each, answered with the data.
From leased asset to market player
Why India's batteries are moving from fixed-fee leases to merchant trading and ancillary services, and what they can earn.
3 Nov 2026 · 11 min readRead the article
Day-ahead or real-time? What waiting is worth
Commit a day early, or wait for the real-time market? What the extra hours of waiting are worth to a battery.
Coming soon
Where the rest hides
The cloudy days, the shifted peaks and the price spikes that a plan made on last week's prices walks straight past.
In preparationSee the series
Will the spread survive?
Every new battery sells into the same evening hours. What that does to the gap between noon and night.
In preparationSee the series
The break-even spread
Cycling wears a battery out. The point at which a day's spread no longer pays for the wear.
In preparationSee the series
Lease or trade?
A tender tariff is fixed for twelve years; the exchange pays more today. What a battery owner gives up either way.
In preparationSee the series
What a solar plant gives up by selling at noon
A solar plant sells when everyone else does. What it gives up, and what storage could win back.
In preparationSee the series
Seven pieces in the first series. The first is out.All research
–
per MW in the latest month
Zoltiq Battery Index
What a reference 2-hour battery earned each month on IEX day-ahead, planning on the prices it could see. One number to follow the market by.
See the IndexFixed schedule vs optimised, per MW-year, last 12 months
Fixed 11:00 / 18:00
- – per MW-year
- – of the hindsight best
- Works when the peak is early evening, the most common shape in the record.
- Misses days when the solar trough or the peak moves, and every chance of a second cycle.
Optimised on last week's prices, day-ahead
- – per MW-year
- – of the hindsight best
- Works because day-ahead prices repeat: last week is a good guide to tomorrow.
- Misses sudden changes: the first days of a heatwave, a monsoon break, a holiday.
Own a plant or a battery? See what it could earn.
A free estimate from your asset's type, size and state.
We run the numbers on India's exchanges and reply by email.
Get a free estimate- Market
- Indian Energy Exchange (IEX)
- History
- Every 15-minute block since April 2022
Why Zoltiq exists
India's power is now traded in 15-minute blocks, and prices swing hard between the solar hours and the evening. The data is public, but turning it into a decision takes time most owners and buyers don't have.
Zoltiq publishes what the market is doing, tests what works, and helps owners act on it.
Coverage
Covered now
- Day-ahead DAM
- Real-time RTM
- Green day-ahead G-DAM
- High-price day-ahead HP-DAM
Expanding to
- Ancillary services AS
- Green term-ahead G-TAM
- Renewable certificates REC
- Bilateral contracts
- Carbon