AgenciesAdditionally, around 1 PM, 18.40 lakh IEX shares changed hands, significantly higher than the previous two weeks' average volume of 6.49 lakh. On the NSE, approximately 5.10 crore shares were traded, according to reports.
Market coupling is expected to challenge IEX's market dominance, which currently holds an 84% share of the power trading business.
Market coupling is a system used in energy markets to establish a single price for electricity across different trading platforms. It combines buy and sell bids from all participating exchanges to find a common market clearing price (MCP).
The government is advancing its plan to implement market coupling, with the Power Ministry prioritizing this initiative and directing the Grid Controller to complete the pilot study.
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The pilot study, examining various technical aspects, is being conducted under the guidance of the Central Electricity Regulatory Commission (CERC) and is expected to be completed by next month. Afterward, CERC will determine when to implement the necessary changes.
India has three power exchanges: IEX, Power Exchange India Limited (PXIL), and Hindustan Power Exchange Limited (HPX). These exchanges operate independently as voluntary markets, collecting their own buy and sell bids and establishing individual market clearing prices (MCPs).
Currently, each exchange has a slightly different electricity cost, typically varying by just a few paisa, according to an ET Now report.
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