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Saturday, Jun 28, 2008
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Business Daily from THE HINDU group of publications Saturday, Jun 28, 2008 ePaper | Mobile/PDA Version | Audio |
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Power Agri-Biz & Commodities - Commodity Exchanges Web Extras - New Products & Services India’s first electricity bourse starts operations Our Bureau
New Delhi, June 27 The country’s first electricity bourse — the Indian Energy Exchange Ltd (IEX) — commenced operations on Friday. IEX is jointly promoted by Financial Technologies (India) Ltd and PTC India Ltd. The exchange received bids for 13,176 Mwh of power when operation commenced and the transaction took place in the price range between Rs 6.46/kwh and Rs 8.01/kwh for the different hours of the market, the exchange said in a release. Over 50 members and users from Maharashtra, Tripura, West Bengal, Karnataka, and Madhya Pradesh have participated in the trade on Friday, the release said. IEX is an online national platform for spot trading of electricity that connects power-deficient consumers with power-surplus entities in the country. On June 9, the Central Electricity Regulatory Commission (CERC) had allowed IEX to start operations. However, CERC instructed that any employee, including MD, CEO or Director, or any consultant, or advisor of the power exchange shall not be directly or indirectly associated with a holding or subsidiary company thereof. The power sector regulator also directed IEX to ensure that none of these officials are associated with any trading member or client or participant.
“The operation of power exchanges has become feasible due to transparent and non discriminatory inter-state open access regime implemented by CERC,” Mr Pramod Deo, Chairman, CERC, said at the launch of the exchange. Besides Financial Technologies and PTC, the other key stakeholders in IEX include Adani Enterprises, IDFC Ltd, Lanco Infratech, Reliance Energy, Rural Electrification Corporation, and Tata Power. MCX will provide domain expertise in the operations of the exchange, it said. NSE-NCDEX team, NTPC plan separate power exchanges Power Exchange gets in-principle nod from CERC More Stories on : Power | Commodity Exchanges | New Products & Services
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