CERC approves third power exchange in India

The Central Electricity Regulatory Commission (CERC) has given approval to the petition filed by Pranurja Solutions Ltd, to establish what will become the third power exchange in India after Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL).Pranurja Solutions is a company promoted by BSE, PTC Ltd and ICICI Bank. Currently, PTC owns a 49 per cent stakes in Pranurja Solutions, while BSE owns a 41 per cent share and ICICI bank holds a 9.9 per cent share. To set up the power exchange, the shareholders will have to dilute their stakes to own at most 25 percent each, within eight weeks of the order issuance. The order was issued on July 31, 2020. The additional prospective promoters will be Grenko Energies, Kirti Telnet, Jindal Power, Chamaria, Tollman International, Varanium Capital, Lord Dholakia, and Meenakshi Power.

Power Exchange India Limited launched a new real-time market trade in India for delivery of electricity on June 1, 2020. The RTM is expected to help discoms and power generators to trade power with more flexibility on power exchanges, only an hour before actual delivery. The entire transaction would be online and accessible from any part of the country. As per a statement by PXIL, this move would allow generators with long-term PPAs to participate in the exchange and sell their unrequisitioned surpluses. Renewable energy generators, who may have unanticipated surpluses, would also be allowed to sell such supply and earn revenue, and, in turn, obtain RECs. The RTM platform being offered by PXIL is called PRATYAY. The first transaction on the platform was conducted by the clients of Kreate Energy and PTC India.

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