New Delhi, April 03rd 2013
The Indian Energy Exchange (IEX) India’s No.1 Energy Exchange has entered into Memorandum of Understanding (MoU) with the European Power Exchange (EPEX SPOT)
on 16 February,2013. EPEX SPOT is the marketplace for short-term power trading in France,Germany, Austria and Switzerland.
Under the proposed tie-up, both companies will work closely together on identifying opportunities that aim at enhancing information and knowledge sharing on the development of electricity trading through competitive market platforms. IEX and EPEX SPOT will also share experience of electricity market operations, explore market development opportunities and training opportunities for IEX personnel as well as for the market participants in the form of direct training or joint training programs in India and neighboring countries. The MoU was signed between Mr.Jean-François Conil-Lacoste, Chairman of the Management Board of EPEX SPOT and Mr Rajesh K.Mediratta,Director Business Development, IEX
About IEX
IEX is India’s first and number one power exchange offering nationwide automated and online electricity trading throughout India. IEX is promoted by Financial Technologies (India) Ltd. and PTC Financial Services Ltd. (PFS). Its key stakeholders include Adani Enterprises, Infrastructure Development Finance Company (IDFC), Lanco Infratech, Jindal Power Ltd., Reliance Infrastructure, Rural Electrification Corporation (REC), Light Speed Venture Partners, Bessemer Venture Partners & Multiples, Tata Power Company. IEX was incorporated on 26th March,2007. The exchange is demutualized, and offer complete neutrality, and transparency in transactions. Financial Technologies provide technology support to IEX. ]
About EPEX SPOT
The European Power Exchange (EPEX SPOT) is the marketplace for fair, transparent and secure short term power trading in France, Germany/Austria and Switzerland. EPEX SPOT
enables electricity producers, utilities, trading companies and industrial consumers to trade power for today or the following day, by placing their bids every day of the week, all year round:on the daily auction for the next day, or in continuous intraday trading for the upcoming hours,thus balancing their supply and demand. As the markets of EPEX SPOT account for more than one third of the European electricity consumption, the prices fixed by EPEX SPOT have a reference character for the European wholesale market
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