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.
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.
To create an efficient, participative trading platform, where Buyers and Sellers can benefit from transparent and market determined prices and promote informed decision making for electricity transactions.
To be the most efficient and reliable Power Trading platform, contributing towards making energy access & availability more equitable and enhancing energy security.
Mr. Rohit Bajaj (Head of Bus. Devel., Regulatory Affairs & Strategy)
Mr. Amit Kumar (Head of Market Operations & New Product Initiatives)
Mr. Samir Prakash (Head of HR & Admin.)
Ms. Shruti Bhatia (Head of Corp. Communications & CSR)
Mr. Indranil Chatterjee (Head of Risk, Alliances & Strategic Diversification)
Jogendra Behera (VP & Chief Risk Officer)
Ravi Kiran Kuchi (VP of Bus. Devel.)
Recognition and Awards
IEX has won a number of award for its innovative approach to Power Trading such as 'Most Innovative Tech Company' at ET Now Stars of The Industry Award, 'Energy Trading Platform of the Year' at the Frost & Sullivan India Excellence Awards, 'Best Power Exchange' at the Indian Power & Energy Awards, and 'Best Exchange Platform of the Year' at the Energia Awards.