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India’s first power exchange IEX commences operations
Posted by Yogesh on Saturday, 28 June, 2008
MUMBAI (Thomson Financial) – India’s first power exchange Indian Energy Exchange (IEX), a company founded by Financial Technologies India Ltd. and PTC India Ltd., said it commenced operations on Friday.
The exchange received bids for 13,176 (megawatt hours) MwH of power on Friday and the matched power was cleared at market clearing prices between 6.46 and 8.01 rupees per kilo watt hours (kwh).
Indian Energy Exchange said the power will be scheduled on June 28 and over 50 members and users have been identified to participate in the first phase, with the number expected to double soon.
IEX said it will operate initially a day-ahead market based on closed auction with double-sided bidding and clearing at uniform prices.
The company added it proposes to offer other products in the second phase of operations.
Besides the founder companies, the key shareholders in IEX are Adani Enterprises, Infrastructure Development Finance Co. (IDFC), Lanco Infratech, Reliance Infrastructure, Rural Electrification Corp. and Tata Power.
Source CNBC
