The Hindu Business Line : Power exchange launch may be delayed

Auction process
All the participants will submit the bids for buying and selling of power to the exchange though a closed double side auction process.
The bids will be displayed on the screens of IEX online work stations.
The bids will be settled at a uniform market clearing price and the energy flow would be arranged through inter-state transmission system.

Anil Sasi

New Delhi, March 27 The roll-out of Indian Energy Exchange (IEX) — the country’s first power bourse — is likely to be pushed back beyond the tentative April 1 launch target as fine-tuning of final rules and bylaws, besides the establishment of data transfer interface with system operators, are yet to be completed, Government sources said.

The bourse was initially slated to go live in February, with the launch date being pushed back subsequently.

Nord Pool

IEX has roped in leading global electricity exchange Nord Pool ASA for operational expertise to ensure that the kick-starting the bourse goes without a hitch. IEX’s promoters — Financial Technologies India Ltd (FTIL) and PTC India Ltd — had earlier signed up Nord Pool’s technology provider, Swedish firm OMX Technology, to offer tech support to IEX. IEX has already got EoIs from some 100 prospective members, including a host of Central generating stations, distribution licensees across states and State generating stations.

Design

As per the design of the exchange, all transactions on the IEX platform will be carried out by or through registered members, each of whom will be designated as trading-cum-clearing member (TCM). TCMs will be IEX’s immediate customers while every other participant on IEX will be a client of a TCM. Once the exchange goes live, all the participants will submit the bids for buying and selling of power to the exchange though a closed double side auction process. The power bourse would accept bids and offers from prospective buyers and sellers during the bid call period — from 1,000 hours to 1,200 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.

IEX, which had bagged approval from the Central Electricity Regulatory Commission on August 31 last year for establishing the power exchange, has on board IDFC, Adani Enterprises, Reliance Energy, Lanco Infratech, Rural Electrification Corporation (REC), and Tata Power Company as investors, besides FTIL and PTC.

More Stories on : Power | Commodity Exchanges

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page