Type Public Company Headquarters New Delhi, India Website www.iexindia.com | Industry Electric utility Services Power Trading Founded 2008 | |
Products Electrical power
Energy Exchange | ||
The Indian Energy Exchange (IEX) is an electronic system based power trading exchange regulated by the Central Electricity Regulatory Commission (CERC). IEX started its operations on June 27, 2008. Indian Energy Exchange pioneered the development of power trading in India and provides an electronic platform to the various participants in power market, comprising State Electricity Boards, Power producers, Power Traders and Open Access Consumers (both Industrial & Commercial).
Contents
IEX is one of the two operational Power Exchanges in India. Ever since its incorporation, it has held an influential market share. IEX operates a day-ahead market based on closed auctions with double-sided bidding and uniform pricing; it has over 3,800 registered clients, over 300 private generators and more than 3,300 industrial electricity consumers.
Promoters
Financial Technologies (India) Limited (FTIL) made an impulsive thrust into India's Power Sector by launching Indian Energy Exchange, along with Power Trading Corporation of India Limited. The aim of the promoters was to magnify the unexplored potential of Indian Power market and abridge the demand supply gap. Thereby creating a marketplace wherein players from different purposes may garner the business potential.
History
The concept of power exchange in India had its genesis in the year of 2005, post which, Financial Technologies Limited and Multi Commodity Exchange together yielded an application for setting up the nation's first power exchange. Since its development on June 9, 2008, IEX had recorded 37.4 million transactions, the same month that electricity prices on the exchange hit a record low 13 paisa/KWh. In November 2009, IEX won Best E-Enabled Customer Platform at the second annual India Power Awards for developing what was described as "a robust platform for energy trading. "
Operations
IEX was envisioned as a neutral platform where participants from different segments of the sector may participate and utilize the range of products and services to match their needs. The participants are required to bear a membership and participate in the bid for the respective product/service. The exchange has launched a range of products and are broadly classified as:
Day Ahead
Term Ahead
Renewable Energy Certificates
Energy Saving Certificates(ESCerts)