Power trade on IEX jumps two-fold to 30,000 MW in 20 days
IEX has witnessed over a two-fold increase in its volumes to 30,000 MW hours since it began operations at 13,000 MW hours volumes on June 27.
By PTI |
NEW DELHI: Amid rising volumes of trade on the country's first power exchange Indian Energy Exchange, Power Minister Sushilkumar Shinde on Wednesday said the platform would give stronger signals to the power sector and bridge supply-demand gap.
IEX has witnessed over a two-fold increase in its volumes to 30,000 MW hours since it began operations at 13,000 MW hours volumes on June 27.
"Initial volumes of trade on the exchange are very encouraging and this is going to provide a stronger signal to the power sector," Union Minister for Power Sushilkumar Shinde said while formally launching the power exchange.
"The establishment of the exchange is necessary for meeting the demand and supply gap of electricity that exists in the country," he said, adding IEX places the Indian power market at par with the most sophisticated exchanges in the world.
IEX Chairman, Advisory Board R V Shahi said, "The first day response for power on the exchange stood at 13,000 MW hour, which has now crossed 30,000 MW hour mark in mere 20 days".
IEX is promoted by Financial Technologies (India) and public sector PTC India.
Meanwhile, power regulator Central Electricity Regulatory Commission member Bhanu Bhushan said, "The little surplus power availabe is allowed for trading on the exchange and volumes are yet to increase on the exchange".
Noting on transmission constraints that exchange would face, he said, "It is a complex issue, not the exchange specific. However, there is much less of a problem in India than elsewhere."
He also said speculators are kept off from the exchange.
IEX has witnessed over a two-fold increase in its volumes to 30,000 MW hours since it began operations at 13,000 MW hours volumes on June 27.
"Initial volumes of trade on the exchange are very encouraging and this is going to provide a stronger signal to the power sector," Union Minister for Power Sushilkumar Shinde said while formally launching the power exchange.
"The establishment of the exchange is necessary for meeting the demand and supply gap of electricity that exists in the country," he said, adding IEX places the Indian power market at par with the most sophisticated exchanges in the world.
IEX Chairman, Advisory Board R V Shahi said, "The first day response for power on the exchange stood at 13,000 MW hour, which has now crossed 30,000 MW hour mark in mere 20 days".
IEX is promoted by Financial Technologies (India) and public sector PTC India.
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Meanwhile, power regulator Central Electricity Regulatory Commission member Bhanu Bhushan said, "The little surplus power availabe is allowed for trading on the exchange and volumes are yet to increase on the exchange".
Noting on transmission constraints that exchange would face, he said, "It is a complex issue, not the exchange specific. However, there is much less of a problem in India than elsewhere."
He also said speculators are kept off from the exchange.
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