The Hindu Business Line : IEX to start trading soon; mock sessions on

New Delhi, Feb. 20 Indian Energy Exchange (IEX), the country’s first power bourse, is slated to go live in a couple of months. IEX, which has been promoted by Financial Technologies Ltd and PTC India Ltd, has already started mock trading from February 15.

“We have not fixed the date… the exchange should be operational in a couple of months,” the IEX Director, Mr Joseph Massey said here. Mr Massey said the exact date for commencing operations would be decided after consulting all stakeholders.

“Technology has been put in place, we have already trained over 200 people and mock trading is on in full swing... It’s just a matter of time now before we start operations,” Mr Massey said.

Once it goes live, the power bourse would accept bids and offers from prospective buyers and sellers during the bid call period — from 1000 hours to 1200 hours — for each hour of the next day (hourly contracts). The bids would be displayed on the screens of IEX online work stations. The bids matched by the bourse mechanism would be settled at a uniform market clearing price and the energy flow would be arranged through inter-state transmission system.

Mr Massey said the exchange would offer a transparent trade mechanism for those involved in short-term power trade and also take care of the complex compliance process on behalf of traders. IEX had bagged approval from the Central Electricity Regulatory Commission on August 31, 2007 for establishing the Power Exchange.

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