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IEX Stock Dips as Minister Reiterates Market Coupling Stance
19 Jan
Summary
- IEX shares dropped following the Union Power Minister's statement.
- The government's position on market coupling remains unchanged.
- A crucial market coupling hearing was scheduled for the same day.
Shares of the Indian Energy Exchange (IEX) faced pressure on Monday after the Union Power Minister confirmed the government's unchanged position on market coupling. This development occurred just before a critical market coupling hearing was set to take place. The comments led to a dip in IEX's stock value, with shares trading lower on the BSE.
The market coupling, a directive from the Central Electricity Regulatory Commission (CERC), aims to centralize price discovery in the power market. Starting January 2026, Grid-India is slated to consolidate all day-ahead market bids, publishing a single cleared price instead of individual exchanges doing so.
IEX, which currently holds approximately 85% of the market share in power trading segments like the day-ahead and real-time markets, had previously received some relief from the Electricity Appellate Tribunal (APTEL). The tribunal had requested clarity from the CERC regarding the market coupling norms, signaling ongoing scrutiny of the regulatory framework.
