Indian Energy Exchange (IEX) and Japan Electric Power Exchange (JEPX) have tied up to jointly explore opportunities for a cooperation in electricity market.
The scope of a memorandum of understanding (MoU) includes opportunities for training to augment the electricity trading through competitive market platforms by organising knowledge sharing programmes, an IEX statement said.
These initiatives would help both the organisations in elucidating the electricity markets and in learning the laws and rules pertaining to electricity trading in both countries.
The agreement was signed on March 28, 2018.
According to the statement, the intent of the MoU is to share experience and cooperate with each other in respect of technology and in energy market products development.
This collaboration would be beneficial for both the exchanges and for the larger good of the power markets in India and Japan, it said.
Commenting on this SN Goel, Managing Director and CEO, IEX, said in the statement, The power exchanges in India have high growth potential. As the energy markets in India and Japan both have potential to grow, expand and diversify, I believe this collaboration with JEPX will ultimately benefit overall market development in both countries.
Takashi Murakami, Chairman and CEO, JEPX said in the statement that we are very much pleased to have close relationship with IEX in order to share experiences regarding full liberalization of electric power market.
The JEPX operates physical short-term electricity markets in Japan. In 2017 FY, its 135 members traded 61TWh — 8 per cent of whole electricity consumption of Japan. It is an independent non-profit organization designated as a wholesale electric power exchange by Minister of Economy, Trade and Industry under Electricity Business Act of Japan.