IEX-  Possible Change in Business Enviroment

IEX- Possible Change in Business Enviroment

The Power Ministry has directed the Central Electricity Regulatory Commission (CERC) to implement the process of market coupling in a timely manner.

Market coupling refers to forming of a single power trading entity owned by the government where price discovery will happen with power getting dispatched to short-term power trading.

IEX is a market leader and has the highest volumes in terms of power trading. This will dry up volumes in a significant manner for IEX among other power trading platforms and
snatch away the moat of creating liquidity and price discovery by IEX.

Rohit Bajaj, Head - Business Development, Strategy and Regulatory Affairs at IEX, on the news-

"India has today a voluntary market framework where all exchanges have equal opportunities. Market coupling is done to couple different markets operating in different geographies which is not applicable in our case. In India, all the regions are already coupled and we have one market and one price. The government has requested CERC to initiate the process of consultation and finalisation of a construct. I am confident that all aspects, such as the objective of coupling and need in the current market framework, will be examined.".

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