Live
Power producers are increasingly accessing Indian Energy Exchange Ltd shares in the platform, distributors and corporates for their short-term energy needs, which have soared 181 per cent so far this year. That’s the second-best performance on the S&P BSE India Power Index after Adani Transmission Ltd.
Indian Energy Exchange has outperformed a gauge of power firms this year; IEX’s real-time market product has been a ‘game changer’ as it allows companies to bid for their power requirements over the next one hour, according to Meet Jain, an analyst with Mumbai-based LKP Securities Ltd.
- EMS Surges 17% on Rs 103 Cr UP Jal Nigam L-1 Win
- Key Factors Behind Today’s Market Decline
- ZEE Entertainment Jumps 4% on Board Meet Fundraise Plan
- DEE Development Engineers Surges 5% as Order Book Tops Rs 2,400 Cr
- Sigma Advanced Systems Bags Rs 208 Cr Artillery Export Order
This has allowed companies to take advantage of lower electricity prices than their current long-term purchase rates, he added. “The government is in the planning stage to push for procuring 100 per cent power via exchanges, which have more transparency and better price discovery.”
For three months ended September, Indian Energy Exchange saw a 57 per cent year-over-year rise in power trading volume with demand across market segments.
Stock Covered in the news
