The IEX was granted approval to operate as an automated electronic trading exchange by the regulator, the Central Electricity Regulatory Committee

Central Electricity Regulatory Commission

Central Electricity Regulatory Commission , a key regulator of power sector in India, is a statutory body functioning with quasi-judicial status under sec - 76 of the Electricity Act 2003...

 (CERC), on June 9, 2008. One year later 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."

IEX currently operates a day-ahead market based on closed auctions with double-sided bidding and clearing at a uniform price. It is currently has 259 registered clients and its energy-trading platform is used by 25 Indian states, 150 private generators and more than 100 industrial electricity consumers.

It is promoted by PTC India Limited, Financial Technologies

Financial Technologies Group

Financial Technologies Limited is an Indian financial services company, formed in 1988. It is promoted by the Financial Technologies Group...

, Tata Power

Tata Power

Tata Power is India’s oldest and largest private sector power utility with an installed generation capacity of over 2977 MW.On the 22 March 2011 it has announced partnership with Sunengy an Australian firm, to build India's first floating solar plant....

, IDFC, Reliance Energy

Reliance Energy

Reliance Infrastructure, formerly known as Reliance Energy and prior to that as Bombay Suburban Electric Supply , Its India's largest private sector enterprise in power utility and its a company under the Reliance Anil Dhirubhai Ambani Group banner, one of India's largest conglomerates. The...

, Rural Electrification Corporation

Rural Electrification Corporation Limited

REC is a leading public Infrastructure Finance Company in India’s power sector. The company finances and promotes rural electrification projects across India, operating through a network of 13 Project Offices and 5 Zonal Offices, headquartered in New Delhi...

 (REC), Adani Enterprises, Lanco Infratech Limited

Lanco Infratech

Lanco Infratech Limited is a large Indian business conglomerateinvolved in construction, power, real estate, and several other segments. Founded in 1986 by...

. Jayant Deo is the managing director and chief executive officer of IEX.

Benefits of Indian Energy Exchange

• Transparency: IEX offers a transparent, national-level platform for trading electricity in India leading to a vibrant power market.

• Access a diversified portfolio: IEX offers a broader choice to generators and distribution licensees at the national-level so that they can trade in smaller quantities and smaller number of hours without additional overheads.

• Payment security: IEX stand in as the counter-party for all trades; so participants need not be concerned about the risk-profile of the other party.

• Minimal transaction overheads/charges: All charges are displayed on the IEX trading terminals; so there is no room for negotiation. The cost of transactions through IEX is much less than any other mode of transaction.

• Efficient portfolio management: IEX enables participants to precisely adjust their portfolio as a function of consumption or generation. Participants, especially distribution licensees, are enabled to precisely manage their consumption and generation pattern.

• Hedging UI risks: IEX provides a tool to hedge against adverse movements in electricity prices. Thus, price risks are minimised.

• Market development: IEX has plans to launch a range of products to facilitate development of power markets in India in such a way that investment in capacity enhancement is encouraged.

Salient Features

• India's No. 1 power exchange with 86% market share.
• Average Daily Volume for Q1 FY 2011 - 20,921 MWh
• Highest turnover reported in the Day Ahead Market in fiscal 2010 was 31,429 MWh on 19 February 2010
• The exchange has 29 state utilities, 110 Private generators and over 145 direct consumers participating for better managing their energy portfolio.