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Home News Power Sector News 3rd Indian power exchange - National Power Exchange Ltd - to start soon

3rd Indian power exchange - National Power Exchange Ltd - to start soon

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Power ExchangeInformation technology major Tata Consultancy Services (TCS) have incorporated a joint venture company with National Thermal Power Corporation (NTPC), National Hydro Power Corporation (NHPC) and Power Finance Corporation (PFC) to set up 3rd energy exchange of India - National Power Exchange Ltd . The company will operate the power exchange at the national level. TCS, part of the Tata Group, will hold a majority stake of 50.02 percent in the company with the three power utilities owning 16.67 percent equity each. Initially, the four partners will invest Rs.500 million (Rs.50 crore).

The four companies signed the joint venture agreement in September after filing an application with the Central Electricity Regulatory Commission (CERC) earlier.The proposed exchange will rival the two power exchanges already functional in India - the Indian Energy Exchange (IEX) and Power Exchange of India (PXI).

Although India's first power  exchange, Indian Energy Exchange (IEX), went live on 27th June 2008, it could not obtain considerable power for trading as India is basically facing heavy power shortage. Second power exchange of India, Power Exchange India Ltd (PXIL) was on 22nd October 2008. Presently, power exchange handles less than 0.5% of total power generation in the country.

The head of the India's first power  exchange, Indian Energy Exchange(IEX), Jayant Deo, feels the entry of too many players will make "survival difficult for all," in a market where volumes are very low. Analysts also feel that it is very difficult for existance of 3 power exchanges in India as it is a power deficit market.
 

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