Indian Energy Exchange Limited operates a power trading platform. It enables trading and price discovery of electricity and related products with risk management for participants of the electricity market. The company’s products include Day-Ahead Market, a physical electricity trading market for deliveries for any/some/all 15 minute time blocks in 24 hours of next day starting from midnight; Term-Ahead-Market that provides a range of products allowing participants to buy/sell electricity on intra-day, day-ahead contingency, and term ahead contracts.
Real-Time Market, an auction session every half an hour with power to be delivered after 4 time blocks or an hour after gate closure of the auction; Renewable Energy Certificates to ease the purchase of renewable energy by the state utilities and obligated entities; Green Day-Ahead Market, a double-sided closed collective auction in renewable energy on a day-ahead basis.
Cross-Border Electricity Trade, an endeavour towards building an integrated South Asian Power Market; and Energy Saving Certificates, a market-based instrument designed for the consumers in energy industries, such as aluminum, cement, thermal Power plant, distribution, utilities, refineries, railways, fertilizer, and iron and steel etc. Indian Energy Exchange Limited was incorporated in 2007 and is based in New Delhi, India.
Indian Energy Exchange Limited (IEX) 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.
The Exchange is a publicly listed company with NSE and BSE. IEX is approved and regulated by Central Electricity Regulatory Commission (CERC) and has been operating since June 27, 2008. In August 2016, IEX received three ISO Certifications – ISO 9001:2015 for quality management, ISO 27001:2013 for Information security management and ISO 14001:2015 for environment management.
Business area of Indian Energy Exchange Limited
The IEX is a Power Exchange, licensed by the Central Electricity Regulatory Commission (CERC) for spot trading in power / electricity and trading of Renewal Energy Certificate (REC) and Energy Saving Certificates (ESCerts). The main activity of the company is to provide an automated platform and infrastructure for carrying out t trading in electricity units for physical delivery of electricity.
Product Segments of Indian Energy Exchange Limited
- Day-Ahead Market (DAM)
- Term-Ahead Market (TAM)
- Renewable Energy Certificates (REC)
- Energy Saving Certificates (ESCerts)
- Real Time Market
- Green Term-Ahead Market
Awards and accolades
- Indian Energy Exchange Limited is respected as an industry leader and statesman, reflected in growing recognition.
- Best E-Enabled Consumer Platform -2009 Council of Power Utilities
- Best Performing Power Trading Company/ Exchange -2012, 2013 Power line
- Best Power Exchange in India – 2012, 2013 and 2014 Enertia Foundation
- Innovators in Product and Technology – 2013 Inc. India
- Exchange of the Year – 2014 Power Business View
- Best Power Exchange -2014 India Power Award (Council of Power Utilities)
- Leaders in Power Market Development – 2015 Council of Power Utilities
- Best IPO Award (Midcap Category) – 2018 Investor Relations Society (Partnered with BNY Mellon & Bloomberg)
- Best CFO Award in 100- 500 turnover category – 2018 The Financial Express
- Best Power Exchange in India- First view intelligence award in 2019
Milestones
- 2008: Launched Day Ahead Market (DAM)
- 2008: Commenced Operations with 58 participants
- 2008: Daily cleared volume in DAM – 20 million units
- 2009: Registered first Open Access Consumer (OA)
- 2009: Introduced Term Ahead Market (TAM)
- 2010: Registered participants in DAM crossed 500
- 2011: Introduced Renewable Energy Certificate (REC) in the market
- 2011: Traded first non-solar REC
- 2012: Introduced 15mins contract in DAM
- 2012: First solar REC trade
- 2012: Signed MOU with PJM Technologies
- 2013: Signed MOU with EPEX SPOT (France)
- 2015: Launched round the clock TAM
- 2016: First Indian energy exchange to get ISO certification
- 2017: Launched Energy Saving Certificate
- 2017: Publically listed its securities
- 2018: Signed MOU with JPEX (Japan)
- 2018: Daily cleared volume in DAM crossed all time high
- 2019: Highest DAM vols in a day reached 306 MU
- 2020: Launched two new bid types and TAM contract enhancements
- 2020: Signed MOU with Power Ledger, Australia
- 2020: Incorporated Indian Gas Exchange (wholly owned subsidiary of IEX)
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