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IEX Shares Soar on APTEL Hearing Buzz
6 Jan
Summary
- IEX shares rose nearly 14% following strong tribunal remarks.
- The dispute centers on CERC's market coupling order for power trading.
- Market coupling aims to establish a single price across exchanges.
Indian Energy Exchange (IEX) shares saw a substantial jump, nearly reaching 14% in late trading on Tuesday. This rally was fueled by strong remarks reportedly made by the Electricity Appellate Tribunal (APTEL) during its ongoing hearing on the Central Electricity Regulatory Commission's (CERC) market coupling order. Investors interpreted these comments as a potential sign of relief for the exchange.
The tribunal's sharp observations, as reported, questioned the process of framing the coupling regulations, with one comment suggesting the order was made by some officers for personal gain. IEX reiterated its stance that the coupling framework is flawed and should be set aside, even without considering insider trading findings.
Market coupling, slated for implementation in January 2026, seeks to establish a single, market-cleared price for the day-ahead market by pooling bids from all exchanges. This process would reduce the price discovery autonomy of individual exchanges, a segment where IEX currently holds approximately 85% market share.
