On the 8th of July the India Energy Exchange (IEX) celebrated its first successful year in operation. The IEX is India’s only bourse mandated to trade electricity electronically.
Electricity contracts are traded on a “day-ahead market hourly” basis in Megawatts with bed time hours trading around 2800 Rupees per MegaWatt Hour (INR/MWh) up to peak times during business hours and dinner time of around 4000 INR/MWh. Electricity volume also varies throughout the day with around 500 MWh per hour during off peak and 1100 MWh per hour at peak times.
Members of the exchange consist of Independent Power Producers (IPP), Captive Power Producers (CPP), Merchant Power Plants (MPP), distribution licensees and traders. Net worth of members must be at a minimum of 150 lakhs Rs. (US$300,000)
The India Energy Exchange is regulated by the Central Electricity Regulatory Commission (CERC) and the Multi Commodity Exchange (MCX) offers support and expertise to the IEX.