IEX to start operations in 2-3 months

The country's first power exchange, which will aid a transparent power market, is expected to be start operation in two-three months.

The Indian Energy Exchange (IEX), a joint venture company formed by Financial Technologies (India) and MCX (Multi-Commodity Exchange) has already submitted the rules and regulations of the exchange for approval from Central Electricity Regulatory Commission (CERC).

This was revealed by CERC member Bhanu Bhusan to Business Standard on the sidelines of a seminar on "Interstate Sale of Power Under Open Access Policy" organised by the Confederation of Indian Industry (CII) in Chandigarh on Monday.

He added that NCDEX in association with NSE have also filed a proposal for setting up another power exchange in the country.

Commenting upon the rationale for setting up an energy exchange in a power-deficient country an IEX official said, "In India the scope of trading power is huge even with its current power shortage scenario."