India's first Energy Exchange by February

Published: Wednesday, January 9, 2008, 17:39 [IST]
 

Mumbai, Jan 9 (UNI) India's first-ever energy stock exchange, Indian Energy Exchange (IEX), will start its operatios next month IEX Vice President Rajesh Kumar Mediratta said today.

Speaking at the fourth Energy Technologies Forum 2008 meet here today, he said the nationwide, automated online trading platform would initially impart training to its members. It had already registered 200 members.

He said the Exchange would catalyse the electricity trade in the country by creating a transparent and neutral market through a technology-enabled electronic trading platform. It would deal with the short-term needs of its members, and would work on the lines of the stock exchange.

''We will deal with both the spot exchange as well as forward exchange of the power. We are aiming for a quantum of Rs 50,000 crore electricity trade through this exchange within the next five years,'' he said.

The Exchange had received the mandatory approval from the Central Electricity Regulatory Commission (CERC) on August 31 last year, following which it initiated a membership enrolment drive.

The Exchange would be powered by Financial Technologies, while IDFC, Adani Enterprises, Reliance Energy, Lanco Infratech and Tata Power are the stake holders.

The domestic and international exchange operations expertise to the IEX would be provided by the Multi Commodity Exchange of India.

The Power Grid Corporation of India had orally urged the CERC to include it in the Exchange stating that its presence was very much needed to ensure stability and quality of the power fed in both regional and national grids.

The CERC had stated that Power Grid would have no role to play in the exchange. Power Grid, however, had indicated that it was willing to share power data from its regional load despatch centres, but it would be at commercial cost.

UNI IAS-VK MAZ SLD GC1713

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