AAAAAAAAAAAAAAAAAAAAAAAAAAA

NT Bureau
Chennai, Sept 22:

        Financial Technologies (India) Ltd has received an approval from the Central Electricity Regulatory Commission to set up country's first national level power exchange-Indian Energy Exchange Ltd (IEX) for trading electricity.

        IEX, promoted by Financial Technologies, will be a pan-India neutral and transparent electronic demutualised exchange for efficient price discovery in the electricity market. PTC India Ltd has consented to take 26 per cent stakes in IEX.

        Commenting on the launch, Dewang Neralla, co-founder, Financial Technologies said, 'IEX is a reflection of Financial Technologies vision to create world class market, driven economy which empowers the entire supply chain equalising the smallest and the largest. IEX's endeavour will be to create a platform that can eradicate the gap between buyers and sellers by taking the supply where the demand exists at most efficient equilibrium price.'

        The need for power exchange has been felt for quite some time to meet the demand and supply of power on time and to provide a common platform to both buyers and sellers and to assist them in price discovery.

        IEX promises multi-fold benefits for the Indian electricity supply industry by creating a non-discriminatory marketplace with a pan-India access to all buyers and sellers.