Indian Energy Exchange (IEX):
The electricity market at Indian Energy Exchange (IEX) achieved an all-time high volume of 8,248.52 MU (million units) in the month of March 2021 surpassing all the previous milestones.
- It is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates and Energy Saving Certificates.
- The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution.
- It is a publicly listed company with National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
- It is approved and regulated by Central Electricity Regulatory Commission (CERC) and has been operating since 2008.
- To leverage technology and innovation to establish transparent and efficient energy marketplaces for delivering affordable, reliable energy to consumers.
Trading Platform for:
- Physical Delivery of Electricity:
- Day-Ahead Market (DAM):
- Term-Ahead Market (TAM):
- The contracts under TAM cover a range for buying/selling electricity for a duration of up to 11 days.
- It enables participants to purchase electricity for the same day through intra-day contracts, for the next day through day-ahead contingency, on a daily basis for rolling seven days through daily contracts.
Renewable Energy Certificates (REC):
- Under the REC mechanism, a generator can generate electricity through renewable resources in any part of the country.
- For the electricity part, the generator receives the cost equivalent to that from any conventional source while the environment attribute is sold through the exchanges at the market-determined price.
- The obligated entity from any part of the country can purchase these RECs to meet its RPO (Renewable Purchase Obligation) compliance.
- Obligated entities may either purchase renewable energy or can purchase RECs to meet their RPO set under RPO of their respective States.
Energy Saving Certificates (ESCerts):
- These are the tradable certificates under the Perform, Achieve, Trade (PAT) Scheme of the Bureau of Energy Efficiency (BEE).
- It is a market-based mechanism to incentivize energy efficiency in large energy-intensive industries.