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Indian Energy Exchange: Difference between revisions
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{{moresources|date=June 2022}} | |||
{{Use dmy dates|date=June 2022}} | |||
{{Use Indian English|date=June 2022}} | |||
{{Short description|Indian Electrical power company}} | {{Short description|Indian Electrical power company}} | ||
{{Infobox company | {{Infobox company | ||
| name = Indian Energy Exchange Limited | | name = Indian Energy Exchange Limited | ||
| logo = | | logo = | ||
| type = [[ | | type = [[Public company|Public]] | ||
| traded_as = {{BSE|540750}}<br />{{NSE|IEX}} | | traded_as = {{BSE|540750}}<br />{{NSE|IEX}} | ||
| foundation = 2008 | | foundation = 2008 | ||
| location = [[New Delhi]], [[India]] | | location = [[New Delhi]], [[India]] | ||
| key_people = | | key_people = | ||
| industry = [[ | | industry = [[Electricity market|Power exchange]] | ||
| products = Electrical power<br />Energy | | products = Electrical power<br />Energy exchange | ||
| services = Power | | services = Power trading | ||
| subsid = Indian Gas Exchange | | subsid = Indian Gas Exchange | ||
| homepage = {{URL|https://www.iexindia.com/}} | | homepage = {{URL|https://www.iexindia.com/}} | ||
}} | }} | ||
The '''Indian Energy Exchange''' (IEX)<ref>{{cite web|url=http://www.iexindia.com |title=Indian Energy Exchange |publisher=Iexindia.com |date= |accessdate=2012-08-08}}</ref> is an Indian electronic system based power trading exchange regulated by the [[Central Electricity Regulatory Commission]] (CERC). IEX started its operations on June | The '''Indian Energy Exchange''' (IEX)<ref>{{cite web|url=http://www.iexindia.com |title=Indian Energy Exchange |publisher=Iexindia.com |date= |accessdate=2012-08-08}}</ref> is an Indian electronic system based power trading exchange regulated by the [[Central Electricity Regulatory Commission]] (CERC). IEX started its operations on 27 June 2008.<ref>{{cite web|url=http://www.dnaindia.com/money/report-first-power-exchange-starts-operations-1174141 |title= First Power Exchange starts operations |publisher=Dnaindia.com |date= |accessdate=2017-02-23}}</ref> Indian Energy Exchange pioneered the development of power trading in [[India]] and provides an electronic platform to the various participants in power market, comprising [[State Electricity Board (disambiguation)|State Electricity Board]]s<!--intentional link to DAB page-->, Power producers, Power Traders and Open Access Consumers (both Industrial & Commercial). | ||
IEX is one of the two operational Power Exchanges in India. Ever since its incorporation, it has held an influential market share. IEX operates a day-ahead market based on closed auctions with double-sided bidding and uniform pricing;<ref>{{cite web|url=http://www.iitk.ac.in/ime/anoops/IEX%20Training-2016/IITK%20-%20PPTs%20-%202016/Day%20-%203%20IITK/Mr.%20Prassana%20Rao%20-%202%20-%20Trading%20at%20Power%20Exchanges.pdf |title= Trading at Power Exchange |publisher=iitk.ac.in |date= |accessdate=2017-02-23}}</ref> it has over 3,800 registered clients, over 300 private generators and more than 3,300 industrial electricity consumers. | IEX is one of the two operational Power Exchanges in India. Ever since its incorporation, it has held an influential market share. IEX operates a day-ahead market based on closed auctions with double-sided bidding and uniform pricing;<ref>{{cite web|url=http://www.iitk.ac.in/ime/anoops/IEX%20Training-2016/IITK%20-%20PPTs%20-%202016/Day%20-%203%20IITK/Mr.%20Prassana%20Rao%20-%202%20-%20Trading%20at%20Power%20Exchanges.pdf |title= Trading at Power Exchange |publisher=iitk.ac.in |date= |accessdate=2017-02-23}}</ref> it has over 3,800 registered clients, over 300 private generators and more than 3,300 industrial electricity consumers. | ||
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== Promoters == | == Promoters == | ||
Financial Technologies | 63 Moon Technologies Ltd (Formerly known as Financial Technologies India Limited) made an impulsive thrust into India's Power Sector by launching Indian Energy Exchange, along with Power Trading Corporation of India Limited. The aim of the promoters was to magnify the unexplored potential of Indian Power market and abridge the demand supply gap. Thereby creating a marketplace wherein players from different purposes may garner the business potential. | ||
== History == | == History == | ||
The concept of power exchange in India had its genesis in the year of 2005, post which, Financial Technologies Limited and [[Multi Commodity Exchange]] together yielded an application for setting up the nation's first power exchange. Since its development on June | The concept of power exchange in India had its genesis in the year of 2005, post which, Financial Technologies Limited and [[Multi Commodity Exchange]] together yielded an application for setting up the nation's first power exchange. Since its development on 9 June 2008, IEX had recorded 37.4 million transactions, the same month that electricity prices on the exchange hit a record low 13 paisa/KWh. In November 2009, IEX won Best E-Enabled Customer Platform at the second annual India Power Awards for developing what was described as "a robust platform for energy trading.<ref>{{cite web|url=http://www.iexindia.com/events/index.htm |title=Indian Energy Exchange |publisher=Iexindia.com |date=2009-11-17 |accessdate=2012-08-08}}</ref> | ||
== Operations == | == Operations == | ||
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'''Energy Saving Certificates(Es Certs)''' | '''Energy Saving Certificates(Es Certs)''' | ||
= Indian Gas Exchange = | == Indian Gas Exchange == | ||
Indian Gas Exchange (IGX) is a wholly owned subsidiary of IEX, which involves in trading spot and forward contracts of Gas.<ref>{{Cite web|title=About Us {{!}} IGX|url=https://www.igxindia.com/about/|access-date=2021-02-24|language=en-US}}</ref> | Indian Gas Exchange (IGX) is a wholly owned subsidiary of IEX, which involves in trading spot and forward contracts of Gas.<ref>{{Cite web|title=About Us {{!}} IGX|url=https://www.igxindia.com/about/|access-date=2021-02-24|language=en-US}}</ref> The exchange has over 500 registered clients and 15 members. It currently operates from three physical hubs — [[Hazira]], [[Dahej]] and [[Krishna Godavari Basin|KG Basin]].<ref>{{Cite news|title=GAIL acquires IEX's 5% stake in Indian Gas Exchange|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/gail-acquires-iexs-5-stake-in-indian-gas-exchange/articleshow/80769305.cms?from=mdr|access-date=2021-03-10}}</ref> | ||
== | === Shareholding === | ||
Shareholding of IGX as on 10 Mar 2021:<ref>{{Cite news|last=Mishra|first=Twesh|date=2021-03-10|title=NSE becomes co-promoter in IGX, buys 26% stake in gas trading hub|work=Business Standard India|url=https://www.business-standard.com/article/markets/nse-becomes-co-promoter-in-igx-buys-26-stake-in-gas-trading-hub-121031001089_1.html|access-date=2021-03-10}}</ref><ref>{{Cite news|title=GAIL acquires IEX's 5% stake in Indian Gas Exchange|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/gail-acquires-iexs-5-stake-in-indian-gas-exchange/articleshow/80769305.cms?from=mdr|access-date=2021-03-10}}</ref><ref>{{Cite web|author=Staff Writer|date=2021-03-10|title=ONGC acquires 5% stake in Indian Gas Exchange|url=https://www.livemint.com/companies/news/ongc-acquires-5-stake-in-indian-gas-exchange-11615389619665.html|access-date=2021-03-10|website=mint|language=en}}</ref> | Shareholding of IGX as on 10 Mar 2021:<ref>{{Cite news|last=Mishra|first=Twesh|date=2021-03-10|title=NSE becomes co-promoter in IGX, buys 26% stake in gas trading hub|work=Business Standard India|url=https://www.business-standard.com/article/markets/nse-becomes-co-promoter-in-igx-buys-26-stake-in-gas-trading-hub-121031001089_1.html|access-date=2021-03-10}}</ref><ref>{{Cite news|title=GAIL acquires IEX's 5% stake in Indian Gas Exchange|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/gail-acquires-iexs-5-stake-in-indian-gas-exchange/articleshow/80769305.cms?from=mdr|access-date=2021-03-10}}</ref><ref>{{Cite web|author=Staff Writer|date=2021-03-10|title=ONGC acquires 5% stake in Indian Gas Exchange|url=https://www.livemint.com/companies/news/ongc-acquires-5-stake-in-indian-gas-exchange-11615389619665.html|access-date=2021-03-10|website=mint|language=en}}</ref> | ||
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5% – [[GAIL]] | 5% – [[GAIL]] | ||
Rest – Indian Energy Exchange | Rest – Indian Energy Exchange and other Investors | ||
==References== | ==References== | ||
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[[Category:Indian companies established in 2008]] | [[Category:Indian companies established in 2008]] | ||
[[Category:Companies based in Delhi]] | [[Category:Companies based in Delhi]] | ||
[[Category:Companies listed on the National Stock Exchange of India]] | |||
[[Category:Companies listed on the Bombay Stock Exchange]] | |||