IEX expects power trading of Rs 7,000 cr by 2009-10

Online electronic trading platform Indian Energy Exchange (IEX) said it is looking at a business volume of Rs 7,000 crore by the end of this fiscal, a 55 per cent jump over 2008-09 figures.

"We are expecting a total turnover of Rs 7,000 crore by the end of 2009-10 against the business of Rs 4,500 crore achieved in 2008-09," IEX Vice President Rajesh Mediratta told reporters here.

With more states now showing interest in buying and selling power through the electronic exchange, IEX expects a considerable jump in volume to 4 billion this fiscal.

"The total buy and sales of power in terms of units should reach 4 billion-mark against 2.6 billion units traded last fiscal," he said.

In November, IEX saw highest ever trading of power at 638 million units.

"Last month, we found the total trading of power at 638 million units in a single month which has been highest in this year," he said. However, February marked the lowest trading of energy at 180 million units.

Although the highest price of power trading jumped to Rs 10.47 per unit in April this year, the average unit price at the exchange remained at Rs 3.15 per unit.

"Before the general elections this year, the demand for power shot up significantly in various states which resulted in rate of power increasing to Rs 10.47 per unit," he said.