Ministry requests for Uniform Electricity Prices across Exchanges

12 Jun 2023 CW Team

According to a letter from the ministry to the regulator, several stakeholders had approached them, leading to the decision to proceed with the market coupling process.

Market coupling involves accepting bids from all power exchanges, which are then consolidated by a market coupling operator to create a single combined solution.

India currently has three power exchanges: India Energy Exchange (IEX), Hindustan Power Exchange (HPX), and Power Exchange India (PXI). Among these, IEX dominates the trading volume with 99.9 per cent market share.

At present, the market share distribution does not significantly affect the impact of market coupling, as noted by an industry source and a government official.

However, market coupling could create an opportunity for other exchanges to gain market share in day-ahead and real-time trading.

Naveen Singh, head of business development at Hindustan Power Exchange, stated, "This move will enhance the service levels in the power market, ensure better transparency, and facilitate uniform price discovery across exchanges. It is also expected to significantly reduce power tariffs in the country."

Rohit Bajaj, head of business development, regulatory affairs & strategy at IEX, explained that India follows a voluntary market framework where all exchanges have equal opportunities.

Regarding market coupling, Bajaj added that it is typically used to connect markets operating in different geographic regions, which is not applicable in India's case. He mentioned that all regions in the country are already interconnected, resulting in one market and one price. The government has requested CERC to initiate the consultation and finalisation process for the market coupling construct, taking into consideration the objectives and requirements within the current market framework.

The Ministry of Power has made a request to the Central Electricity Regulatory Commission (CERC) to begin the market coupling process for multiple electricity exchanges, aiming to achieve uniform prices across these exchanges. According to a letter from the ministry to the regulator, several stakeholders had approached them, leading to the decision to proceed with the market coupling process. Market coupling involves accepting bids from all power exchanges, which are then consolidated by a market coupling operator to create a single combined solution. India currently has three power exchanges: India Energy Exchange (IEX), Hindustan Power Exchange (HPX), and Power Exchange India (PXI). Among these, IEX dominates the trading volume with 99.9 per cent market share. At present, the market share distribution does not significantly affect the impact of market coupling, as noted by an industry source and a government official. However, market coupling could create an opportunity for other exchanges to gain market share in day-ahead and real-time trading. Naveen Singh, head of business development at Hindustan Power Exchange, stated, This move will enhance the service levels in the power market, ensure better transparency, and facilitate uniform price discovery across exchanges. It is also expected to significantly reduce power tariffs in the country. Rohit Bajaj, head of business development, regulatory affairs & strategy at IEX, explained that India follows a voluntary market framework where all exchanges have equal opportunities. Regarding market coupling, Bajaj added that it is typically used to connect markets operating in different geographic regions, which is not applicable in India's case. He mentioned that all regions in the country are already interconnected, resulting in one market and one price. The government has requested CERC to initiate the consultation and finalisation process for the market coupling construct, taking into consideration the objectives and requirements within the current market framework.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..