The Hindu Business Line : Power Exchange sets fee structure

Mumbai, June 27 Power Exchange India Ltd (PXI), a joint venture of the National Stock Exchange and National Commodity and Derivatives Exchange has announced fee structure for trading members.

The trading-cum-clearing members have to pay a one time fee of Rs 10 lakh and an annual fee of Rs 2.5 lakh, while the trading members have to set aside Rs 5 lakh as one time fee and Rs 1 lakh as annual fee.

Members would also be required to keep deposits according to the PXI rules. The fee structure for professional clearing members (PCM), who will facilitate clearing for trading members (TMs), will be announced shortly, said the exchange.

Recognising the peculiarities of the power sector, a distinction, has been made within the TCM category as TSCM and TCM, it said.

TSCM will do only proprietary trades and clear for the deals themselves, while TCM would do proprietary trading, clearing and also trade and clear on account of their clients.

A power exchange would basically function on the lines of commodity exchanges and provide a platform for buyers, sellers and traders of electricity to enter into spot contracts.

PXI, a nationwide spot exchange for power, will initially have only trade day-ahead contracts. It will provide an open market place for all stakeholders in the sector, including generators, distribution companies, independent power producers (IPPs), captive power producers (CPPs), traders and so on who can participate either by becoming members of PXI or by becoming constituents of the members. The exchange is expected to be operational in a few months, PXI said.

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