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Home News Power Sector News Indian Power Exchanges struggle for survival

Indian Power Exchanges struggle for survival

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Power exchanges starugglesFinancial Technologies Ltd promoted Indian Energy Exchange (IEX) and NSE-NCDEX promoted Power Exchange India (PXI) are currently struggling to survive in the tight electricity market when the peaking shortage is 14% and energy shortage is 8%. India is the only power staved country to start a power exchange. Consumer is also not benifitted as the rate of power is remaining high at power exchanges despite reduction of oil prices.

According to the compilation made by the PowerGrid Corporation and Central Electricity Regulatory Commission, IEX which commenced trading on June 27 in its first month of operations clocked a total volume of 69,774 megawatt hours (mwh) with a daily average volume of 2,250 mwh.

While, PXI that started operations from October 22 has recorded total volume of 12,900 mwh with a daily average volume of 390 mwh in its first month of operations. In its first month of operation IEX had achieved more than 440% of turnover of what was achieved in the first month of PXI. In the last one month from October 22 till November 23, PXI has recorded total volume of 12,900 mwh with a daily average volume of 390 mwh. Whereas, during the same period IEX registered a total volume of 4,66,813 mwh and daily average volume of 14,145 mwh.

Interestingly, volume on IEX has been steady and trades have been recorded on all trading days compared to PXI where no volume was reported on 12 days, out of 31 days in the month. In the last 1 month of operation, IEX had 97% market share against 3% of PXI. For November, the power was traded at IEX at the price ranging between Rs 6 and Rs 9.50 per unit and at PXI, the price was between Rs 5.50 and Rs 8.70 per unit. At PXI, the software system operates on a web platform with the members connected through internet lines with the PXI servers housed in Mumbai. In case of IEX, the members are connected through lease line connectivity.

Courtsey- Financial Express


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