First Indian power exchange launched
Market technology firm Financial Technologies (FTIL) and Power Trading Corporation (PTC), a public-private partnership aimed at developing India’s power markets, have launched the New Delhi-based Indian Energy Exchange (IEX), the country’s first dedicated online power trading exchange.
FTIL, which holds a 48% stake in IEX, is already a major backer of India’s largest energy and commodities exchange, Multi Commodities Exchange (MCX), where 92% of the country’s energy futures trading currently takes place. “Hence, the new exchange will have the added advantage of our expertise,” says MCX chairman Venkat Chary.
According to MCX deputy managing director and IEX director Joseph Massey, IEX will collect the available transfer capability from regional load dispatch centres. It will
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