AI assistant
Indian Energy Exchange Limited — Capital/Financing Update 2020
Jun 1, 2020
59126_rns_2020-06-01_a6186299-e326-4dbd-8c79-c3670e3759ad.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [167 x 59] intentionally omitted <==
Dated: June 01, 2020
The Manager BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001 Scrip Code: 540750
The Manager National Stock Exchange of India Ltd Listing Department Exchange Plaza, 5[th] Floor, Plot no C/1 G Block, Bandra Kurla Complex Bandra (E), Mumbai-400 051
Symbol: IEX
Sub: Submission of Media Release on IEX Launches Real-Time Electricity Market
Dear Sir / Madam,
Please find enclosed herewith the Media Release for Indian Energy Exchange Limited on ‘IEX LAUNCHES REAL-TIME ELECTRICITY MARKET’ .
The above information will also be made available on the website of the Company: www.iexindia.com
You are requested to take the above information on record.
Thanking You.
Yours faithfully,
For Indian Energy Exchange Limited
Digitally signed by: VINEET VINEET HARLALKA DN: CN = VINEET HARLALK HARLALKA C = IN O = Personal A Date: 2020.06.01 08:36:57 +05'30'
Vineet Harlalka Company Secretary & Compliance Officer Membership No. ACS-16264
Encl: as above
==> picture [570 x 75] intentionally omitted <==
==> picture [126 x 40] intentionally omitted <==
MEDIA RELEASE
IEX LAUNCHES REAL-TIME ELECTRICITY MARKET
The market to help the utilities buy & sell electricity just an hour before the requirement in 48 auction sessions during the day
To provide avenue to utilities to efficiently manage demand-supply variation and help save excess penalties due to variation in schedules
To significantly enhance grid security & support national green energy aspirations
New Delhi, Monday, June 01, 2020
The Indian Energy Exchange, India’s premier energy trading platform, today launched the much-awaited Real-Time Electricity Market (RTM) on its platform.
The real time market is an endeavor by the regulator, CERC, to make the power market dynamic by enabling trade in electricity through half-hourly auctions. There will be 48 auction sessions during the day with delivery of power within one hour of closure of the bid session.
The market will greatly aid the distribution utilities to manage power demand-supply variation and meet 24x7 power supply aspirations in the most flexible, efficient, and dynamic way. The utilities presently manage unplanned changes in schedule through the Deviation Settlement Mechanism and in the process, end up paying penalties. RTM will facilitate utilities to reduce dependency on deviation framework and save on the huge penalties. It will also support the grid operators to enhance overall safety and security of the grid.
With the fast-paced shift towards renewable energy, RTM will facilitate the distribution utilities to manage the challenge of intermittency associated with renewables. The market will help the utilities and system operators to forecast and schedule green energy in an effective way thereby supporting the national green energy aspirations towards building India as a sustainable green energy economy.
RTM would also provide an opportunity to generators to sell their unrequisitioned capacity thereby enabling efficient use of generation capacity.
IEX’s RTM is powered by the state-of-the-art technology and features double-sided closed auction to ensure transparency, competitive price discovery, and a seamless trading experience to the market participants.
“With the launch of RTM, the Indian energy markets are moving towards global standards of electricity trading and establishing the new energy order in the country. It will support the utilities in reducing dependence on grid deviation framework, of the order of 20 BU in fiscal year 2020,” said Rajiv Srivastava, CEO & Managing Director, IEX Ltd, said. “The primary purpose of the real-time market is to allow utilities to manage their power demand dynamically, save on huge deviation related penalties and integrate renewables
1 | Page
==> picture [126 x 40] intentionally omitted <==
in an effective way. The new market segment will foster greater flexibility, competition and efficiency in electricity sector and address the emerging needs of the time.,” he added.
IEX has already held several capacity building sessions involving the main beneficiaries of this new market segment including market participants, generation companies and utilities. IEX has also successfully conducted various mock trading sessions and made an RTM tool available to help utilities leverage the market effectively.
ABOUT IEX
IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates and Energy Saving Certificates. The exchange platform enables efficient price discovery and increases the accessibility and transparency of the power market in India while also enhancing the speed and efficiency of trade execution. In August 2016, the Exchange received ISO Certifications for quality management, Information security management and environment management. The Exchange is now a publicly listed company with NSE and BSE. IEX is approved and regulated by Central Electricity Regulatory Commission (CERC) and has been operating since 27 June 2008. For further details, log on to: www.iexindia.com
| Ms. Shruti Bhatia | Ritika Kar |
|---|---|
| Head–Corporate Communication & CSR | The PRactice (On behalf of IEX) |
| Telephone: +91-11-43004000 I+91-9654352741 | Telephone: +91-9711306380 |
| Email: [email protected] | Email: [email protected] |
2 | Page