New Dehli, July 2011

To commemorate its three years of successful completion, Indian Energy Exchange Ltd. ( IEX), India’s first and No. 1 power exchange, today launched a book titled “Three years of Indian Energy Exchange and a report on “Impact of Electricity Exchange on the Power Sector and Indian Economy”.

The book and the report were unveiled by Mr. M Deena Dayalan, Member, CERC, at a function held today to celebrate IEX’s hugely successful run over three years.

Other dignitaries who were present on the occasion are Shri R V Shahi, Former Secretary, Ministry of Power, Govt. of India; Shri, Jignesh Shah, Chairman & CEO, Financial Technologies India Ltd. (FTIL); Shri T N Thakur, CMD, PTC India Ltd; Shri Venkat Chary, Chairman, IEX,  and Shri Jayant Deo, MD & CEO, IEX.

IEX has maintained over 85% market share since inception. During these three years, the total traded volume on IEX has crossed 25 billion units, with an average of 40 MUs being traded daily. More than 600 participants mark their presence by bidding daily on IEX.  IEX has grown from few participants in June 2008 to currently over 1,000 participants in 26 states and 3 Union Territories, thus making a significant presence across the nation. More than 110 private generators use the IEX platform to sell electricity.

Following the launch of the book and the report, Mr. M Deena Dayalan, Member, CERC, said, “I congratulate IEX on its third anniversary. IEX has played an important role to make open access a reality which is one of the salient features of the Electricity Act 2003. IEX has over 1000 open access consumers who regularly use IEX platform to procure electricity from various parts of the country.  It has been really a commendable Journey of Indian Energy Exchange.  We, in the Commission, expect more dynamic and vibrant power markets in future, in India. The exchanges should strive to become a Regional hub for South Asian Electricity Market. Many new products and transparent process of price discovery is seen as the need of the hour in the Electricity Market. The Commission assures that we would be proactive in bringing and supporting new market ideas.“

Expressing his satisfaction in the growth of IEX, Mr. Jignesh Shah, Chairman & CEO, FTIL, said, “I am extremely proud and humbled to see that IEX has emerged as the preferred marketplace for power market players and is counted as one of the central organisations in the Indian power sector. While all these milestones achieved makes me extremely happy, I believe this is not the means to an end. We will continue to pioneer the launch of innovations for further development of India’s power markets and also work with the government and regulators to achieve the ultimate goal of Power to All.”

Mr. T N Thakur, CMD, PTC India Ltd, added, “PTC is very proud to have been a part of a very important developmental phase in the Indian power market. IEX was conceived with a mission to provide a structured, transparent marketplace in power and to usher in modernisation of the Indian power markets. I am glad that our association with IEX has been immensely fruitful. I congratulate the management and all members of IEX for making this exchange such a huge success.”

Mr R V Shahi, Former Secretary, Ministry of Power, added, “The trustworthiness and acceptance of IEX can be seen from IEX’s constant market share of over 80%. IEX has been improving transparency and price discovery in India’s power markets. I hope IEX will continue providing competitive edge to our power industry. Developments have proved that power exchanges have really started playing a meaningful and effective role as was expected of them.”

Mr. Jayant Deo, MD & CEO of IEX, said on the occasion: “Indian Power Markets have been witnessing systematic reforms under the guidance and direction of Ministry of Power and the regulatory and developmental support provided by CERC. IEX is proud to be a part of this change.”

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