India's first power exchange IEX today goes live

The exchange, Indian Energy Exchange (IEX), 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.     

Power will be delivered tomorrow as IEX is trading a day ahead currently.     

IEX, promoted by Financial Technologies (India) and public sector PTC India, has Infrastructure Development Finance Company (IDFC), Adani Enterprises, Reliance Energy, Lanco Infratech, Rural Electrification Corporation (REC) and Tata Power Company as other stake holders.     

Financial Technologies has a 90 per cent share in IEX while the remaining are shared by others.     

Over 50 members and users have been identified for participation in the first phase. Major members and clients who participated today were from Maharashtra, Tripura, West Bengal, Karnataka and Madhya Pradesh.     

"It is highly satisfying to see IEX go live as hard work of entire industry has paid off with the commencement of power trading today in the country," IEX Chairman Venkat Chary said.     

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.