Two power exchanges viz. Indian Energy Exchange (IEX) and Power Exchange of India (PXI) are already operational, while the third exchange i.e., National Power Exchange (NPEX) is approved by regulators and is in the pipeline.
Power Exchange is a nationwide, automated, and online electricity trading platform approved by CERC. On a day in advance the Exchange offers a double side closed auction for delivery on the following day, which is termed as day-ahead market. Market Clearing Price discovery is through double side closed bidding for every hour of the day. The buyers and sellers pay/receive uniform clearing price. Different methods are used for price discovery on intraday, contingency and weekly contracts.
Presently Power Exchanges are catering to the following contracts as approved by CERC
- Day-ahead contracts
- Day-Ahead Contingency Contract
- Intra Day Contracts
- Weekly Contracts
Power Exchanges get prioritized transmission allotment for day-ahead contracts.
The Trading Cum Clearing Membership at the Exchange allows Balaji Trading to maximize its trade. Balaji Trading has set up a 24 X 7, fully-equipped control room for performing its operations. Currently Balaji Trading has one client registered at the exchange. Balaji Trading can provide solutions for clients for purchase and sale of power through the exchange. Balaji Trading can provide client membership to buyers and sellers of power so that the large investment for membership of the exchange is curtailed.
