PTC Acquires 26-Pc Stake In Indian Energy Exchange

PTC India, formerly Power Trading Corporation of India, the country''s largest power trading firm, has acquired 26% stake in the country''s first power exchange Indian Energy Exchange (IEX), which of late received regulatory approval. Tata Power (TPC), Reliance Energy (REL), Rural Electrification Corporation (REC), a consortium of Adani Enterprises (AEL) and IDFC are other stakeholders in IEX. A power exchange is just like any other stock and commodity bourse, and acts as a platform for buying, selling and trading of electricity across India. At present, there is no such exchange in India and electricity is traded bilaterally at mutually agreed rates. IEX has been set up by Financial Technologies (India) and and Multi Commodity Exchange (MCX) for trading electricity.