Indian Energy Exchange (IEX)

Why in news?

• Indian Energy Exchange (IEX) commenced the Cross Border Electricity Trade (CBET) on its power trading platform.
• This would help the exchange expand its power markets beyond India to the South Asia region.
• The government designated nodal agency for CBET is NTPC Vidyut Vyapar Nigam Ltd (NVVN), a fully-owned subsidiary of NTPC limited.
• The company has secured approval for Nepal to participate in the day-ahead market on IEX.

About the exchange:

• The Indian Energy Exchange (IEX) is an Indian 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 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).
• IEX is one of the two operational Power Exchanges in India along with Power Exchange of India Limited (PXIL).
• It has over 3,800 registered clients, over 300 private generators and more than 3,300 industrial electricity consumers.

Prelims Question

Consider the following statements regarding Indian Energy Exhange:
1.It is the first power exchange in India dedicated exclusively to renewable energy producers.
2.It is regulated by Security exchanges board of India (SEBI).
Which of the statements given above is/are correct?
(a)1 only
(b)2 only
(c)Both 1 and 2
(d)Neither 1 nor 2

 Answer to the Prelims Question