Power Exchange India

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Power Exchange India Ltd (PXIL)
Founded October 2008
Headquarters Mumbai, India
Key People Chief Executive Officer Rupa Devi Singh
Products Electricity futures contracts
Website http://www.powerexindia.com/

Power Exchange India Ltd. (PXIL) was launched in late 2008, several months after direct competitor the Indian Energy Exchange (IEX), by two of India's largest securities exchanges. Like the IEX, it provides an electronic trading platform to trade Indian electricity futures contracts but faces a possible threat to its revenue from an energy price cap proposed by the regulator.

Backgound

PXIL commenced operations on October 22, 2008 following guidelines for power trading laid down by the regulator, India's Central Electricity Regulatory Commission (CERC) in February 2007.[1] Its major stakeholders and promoters are two of India's major trading exchanges: the National Stock Exchange of India (NSEI), the country's largest securities exchange, and the National Commodity & Derivatives Exchange (NCDEX).

In February 2010 PXIL conducted a major training program for India's electricity traders and power sector stakeholders that was taught by leading academics and exchange executives.[2] Topics included sector regulation, global markets, risk management and forecasting.

Key people

Mrs. Rupa Devi Singh is chief executive officer (CEO) of Power Exchange India Ltd.

Latest news

The CERC recently dealt a blow to PXIL and its main competitor, the Indian Energy Exchange (IEX) by deciding to cap the price of electricity sold by India's coal-fired power plants on the short-term power market, the Hindu Business Line reported.[3]The regulator claimed that investors can still generate profit from the existing margin and covers all transactions of less than three months' duration, and includes both private and on-exchange transactions. Around eight percent of Indian power transactions are on the short-term market, and about half of those are conducted on PXIL and IEX.

References

  1. Membership - Introduction. Power Exchange India Ltd..
  2. Training Program on Development of Power Markets by PXIL. Power Exchange India Ltd.
  3. Regulator wants cap on short-term tariffs for coal-fired plants. Hindu Business Line.