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Ramesh Sharma

More power: The Union Minister for Power, Mr Sushil Kumar Shinde (left), and the Power Secretary, Mr Anil Razdan, during the launch of first power exchange in the Capital on Wednesday. —

Our Bureau

New Delhi, July 16 With volumes picking up on the country’s first power bourse, the Power Minister, Mr Sushilkumar Shinde, said the electricity trading platform would help bridge the overall demand-supply mismatch situation in the sector.

“Initial volumes of trade on the exchange are very encouraging and this is going to provide a stronger signal to the power sector,” Mr Shinde said while formally launching the Indian Energy Exchange (IEX) here on Wednesday.

IEX has witnessed over a two-fold increase in purchase bids since it began operations on June 27, with bids surging from slightly over 13,000 MW to upwards of 30,000 MW as on July 15.

“The establishment of the exchange is necessary for meeting the demand and supply gap of electricity that exists in the country,” Mr Shinde said, adding that IEX placed the Indian power market at par with the most sophisticated exchanges in the world.

“The technology (for IEX) comes from an alliance between Financial Technologies (India) Ltd and OMX Technology of Sweden, the technology-provider to the world’s leading power exchange, NORDPOOL, which I believe, is the most efficient power exchange in the world and also the most liquid in Europe,” he said.

Besides Financial Technologies, the bourse has PTC India Ltd, Infrastructure Development Finance Company (IDFC), Adani Enterprises, Reliance Energy, Lanco Infratech, Rural Electrification Corporation (REC) and Tata Power as its stakeholders. Financial Technologies has a 90 per cent share in IEX, while the remaining is shared by the others.

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