The Central Electricity Regulatory Commission (CERC) has approved setting up a third power exchange platform in the country, floated by PTC India along with BSE Investments and ICICI Bank.
CERC, however, has asked PTC India to comply with power market regulations before the regulator grants registration.
India has two power exchanges, Indian Energy Exchange (IEX) and Power Exchange India (PXIL).
Power Exchange facilitates over-the-counter sale and purchase of power via different types of contracts day-ahead, term-ahead, renewable energy certificates, and recently introduced real-time electricity market.
PTC India, along with BSE Investments and ICICI, floated Pranurja Solutions in 2019 as a power exchange platform and applied for grant of registration to CERC.
During public hearing of the matter, stakeholders, including the existing two exchanges, raised concerns on the shareholding pattern of Pranurja.
PTC India and BSE Investment hold 25 percent each in Pranurja, followed by 9.9 percent held by ICICI bank. Other shareholders are Greenko Energies (five percent), Jindal Power (two percent), Meenakshi Power (five percent), and six others.
