India is set to get its third power trading exchange led by PTC India in collaboration with BSE Investments and ICICI Bank. The regulator of electricity in the country, Central Electricity Regulatory Commission (CERC) has given its stamp of approval, paving the way for the third power trading exchange in the country.
CERC, however, has asked PTC India to comply with power market regulations before the regulator grants registration.
India has two power exchanges — Indian Energy Exchange (IEX) and Power Exchange India (PXIL). Power exchange facilitates over-the-counter sale and purchase of power via different types of contracts — day-ahead, term-ahead, renewable energy certificates, and recently introduced real-time electricity market. IEX has a lion’s share of 95% in the day-ahead contracts market.
The operationalising of the PTC India led power exchange is likely to be in another eight-nine months, effectively next financial year.
PTC India, along with BSE Investments and ICICI, floated Pranurja Solutions in 2019 as a power exchange platform and applied for grant of registration to CERC. During the public hearing of the matter, stakeholders, including the existing two exchanges, raised concerns on the shareholding pattern of Pranurja.
PTC India and BSE Investment hold 25% each in Pranurja, followed by 9.9% held by ICICI bank. Other shareholders are Greenko Energies (5%), Jindal Power (2%), Meenakshi Power (5%), and six others.
PTC India is the leading provider of power trading solutions in India. It was established in 1999 as a Government
of India initiated Public-Private Partnership, whose primary focus is to develop a commercially vibrant power market in the country.
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