IEX launches cross-border power trading
IEX: The Indian Energy Exchange (IEX) is an Indian electronic system based on a power trading exchange regulated by the Central Electricity Regulatory Commission (CERC).
On the other side, IEX, India’s largest energy exchange, on Monday kicked off cross-border daily electricity trading on its platform. A move that brings New Delhi’s vision of integrating its neighborhood into a South Asian power grid as a means to improve energy access in the region a step closer to reality.
While Nepal is the first country to put a day-ahead call on the exchange for power from NTPC Vidyut Vyapar Nigam, a subsidiary of India’s largest power producer NTPC. Cross-border daily trading will unlock the potential of a regional market that could stretch as far as Myanmar. As a surplus country, India is well placed to serve as the regional electricity trading hub.
This is a first-of-its-kind initiative for the exchanges to expand their power markets. Beyond India to the South Asia region towards building an integrated South Asian regional power market. In a remarkable development following the notification of CBET Regulations by CERC (central electricity regulatory commission) in the year 2019.
Nepal is the first country to avail of the benefit of buying day ahead power from power exchange through NVVN. It was is a huge experience in power trading also has extensive expertise in cross-border power trading, Bhargava said. Sixty-one per cent of total power exported to Bangladesh and 54 per cent to Nepal is through NVVN wherein besides trade.
We also aspire to work closely with Bhutan and Myanmar in the future. IEX is working closely with PTC, NTPC Vidyut Vyapar Nigam Ltd (NVVN). And all other designated nodal agencies for Cross Border Electricity Trade to facilitate inter-country power trade through the Exchange Market.