Central Electricity Regulatory Commission (CERC) has approved the registration to start India’s 3rd Power Exchange. The Power Exchange will be established by Pranurja Solutions Ltd, a company promoted by BSE Investments, PTC Ltd & ICICI Bank.
- The Power Exchange is expected to be operational by the end of 2021.
- The other two power exchanges in India are Indian Energy Exchange (IEX) & Power Exchange of India Ltd (PXIL).
- The commencement of operation of power exchange is subject to approval of laws, rules & technology in accordance with various provisions of the Power Market Regulations (PMR) 2010.
Key Points
- PTC India & BSE Investments Lts own 22.62% each in Pranurja solutions, while ICICI Bank holds 9.04%. Rest is held by other investors like Jindal Power and others.
- The registration of the power exchange will be in force for 25 years from the date of commencement of operation.
- An Power exchange facilitates sale & purchase of power through several types of contracts – day-ahead, term-ahead, renewable energy certificates, and real-time electricity market.
Facts
- IEX is the 1st & largest energy exchange in India, it has been operational since 2008.
- PXIL was instituted in 2008. It is India’s first institutionally promoted power exchange.
Recent Related News:
i.On June 1, 2020, Indian Energy Exchange Limited (IEX), an electronic system based power trading exchange, has started a real-time (electricity) market (RTM) to meet the demand for electricity.
About Central Electricity Regulatory Commission (CERC)
Chairperson – P.K.Pujari
Headquarters – New Delhi
About Indian Energy Exchange (IEX)
Executive Chairman cum Managing Director – Satyanarayan Goel
Headquarters – New Delhi
About Power Exchange of India Ltd (PXIL)
MD & CEO – Prabhajit Kumar Sarkar
Headquarters – Mumbai, Maharashtra
