The Indian Energy Exchange [IEX] is the premier electricity market in India, which gives a national computerized buying and selling platform for physically shipping energy, renewables, and certificates.
Indian Energy Exchange [IEX] has introduced a cross-border energy alternative expanding its power marketplace beyond India to create a South Asian Power Market.
Markets of the Indian Energy Exchange [IEX]
There are eight markets under the Indian Energy Exchange [IEX] -
It is a bodily energy buying and selling marketplace for deliveries for any/some/all 15-minute time blocks in 24 hours of the next day, beginning from midnight. A double-sided closed auction bidding process decides the costs and quantum of energy to be traded.
It allows several merchants, permitting individuals to buy/promote energy for a length of as much as eleven days in advance. It trades regions to a particular contract and is made sure to ship the power for someday in advance.
The market expects a new bidding session every half hour with power to be delivered after 4-time blocks or an hour after the gate closure of the auction. A double-sided closed auction bidding process determines the price and quantum of electricity trading.
- Cross Border Electricity Trade (CBET)
The Cross border in energy is an undertaking to enhance the Indian strength marketplace towards constructing an included South Asian Power Market. To start with, the grid-linked South Asian nations, including Nepal, Bhutan, and Bangladesh, maybe in a position to take part in the Day-in advance Market and Term-in advance Market at the Exchange.
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The matching mechanism is continuous/spot buying and selling for Green-Intraday, Green-DAC, and Green-Daily contracts, while the double-sided open public sale technique applies for Green-Weekly. It is a brand new marketplace section for buying and selling renewable electricity following the CERC approval.
Commenced on 26th October 2021 through Honorable RK Singh, Minister of Power and New & Renewable Energy, GoI, the Green Day in advance Market lets in nameless & double-sided closed collective public sale in renewable electricity on the day-in advance.
- Renewable Energy Certificate
The Central Electricity Regulatory Commission added the REC mechanism to ease the acquisition of renewable electricity through the kingdom utilities and obligated entities, along with the states without sufficient resources.
- Energy Saving Certificate
One of the tasks beneath the National Mission on Enhanced Energy Efficiency (NMEEE) is the Perform, Achieve & Trade (PAT) mechanism, released through the Bureau of Energy Efficiency (BEE) beneath the Ministry of Power on 4th July 2012 in New Delhi.
Facts About Indian Energy Exchange [IEX]
PAT is a market-based approach to increasing and rewarding energy efficiency in large, energy-intensive organizations. A tradeable certificate established under Division 7 of Part 9 of the Electricity Supply Act 1995 is an energy savings certificate.
Companies are assigned a target to work toward to lower their Specific Energy Consumption (SEC). They get Energy Saving Certificates while they reach or exceed their goals. Moreover, they can trade it to the institutions that fall short of their target.
The Indian Energy Exchange [IEX] has ISO Certifications for excellent control, Information safety control, and environmental control and is authorized and controlled through the Central Electricity Regulatory Commission and has been working since 27th June 2008. It is a publicly indexed enterprise with NSE and BSE.
The Indian Energy Exchange has eight sectors that collectively account for 25% of GDP and approximately 45% of India's number one electricity intake and devour one hundred sixty-five million tonnes of electricity annually.
FAQs on Indian Energy Exchange [IEX]
Q1. Is there any Statutory power to direct Indian Energy Exchange [IEX]?
Indian Energy Exchange [IEX] is endorsed and directed by Central Electricity Regulatory Commission (CERC), a legal power under the Electricity Act 2003 with semi-legal jobs. The different guidelines and techniques by the CERC, including the Power Market Regulations 2010, as revised now and again, direct the exercises of the Indian Energy Exchange [IEX].
Q2. Explain Power Exchange in the Indian Energy Exchange [IEX]?
A Power Exchange in the Indian Energy Exchange [IEX] is a platform on which power is transacted, i.e., bought and sold.
Q3. Can individuals trade on the Indian Energy Exchange [IEX]?
Just the Exchange Members, who have been conceded as such by Indian Energy Exchange [IEX], are qualified to go into Contracts and attempt exchanges connecting. People, who are not Exchange Members, can take an interest as clients through an enlisted Exchange Member.
Q4. Who is the Chairman and MD of Indian Energy Exchange [IEX]?
Mr Satyanarayan Goel became the Chairman and Managing Director of the Indian Energy Exchange [IEX] on 19th February 2021.