Power Exchange India Limited

More than 100 paper mills are expected to come under the energy efficiency scheme Perform Achieve and Trade (PAT) by next year as players are adopting technology to reduce their energy footprint, an industry body said on Wednesday. The paper industry has reduced its specific energy consumption by 20 per cent in the last five years, the Indian Paper Manufacturers Association (IPMA) said in a statement. Integrated paper mills in India are generating over 40 per cent of the power consumption by utilising the biomass from the pulping process, the IPMA said. "More than 100 paper mills are expected to come under the ambit of the PAT scheme in the next one year, IPMA Vice President Vadiraj Kulkarni said in his address at Paper Tech 2023. Specific water and energy consumption is being reduced continuously to lessen the carbon footprint, he added. IPMA said it has welcomed the government's Carbon Credit Trading Scheme 2023 under which an Indian Carbon Market would be constituted. The exis

The power ministry has asked Central Electricity Regulatory Authority (CERC) to initiate the process of coupling multiple power exchanges, a mechanism which seeks to ensure uniformity in price discovery of energy at trading platforms. At present India has three power exchanges -- Indian Electricity Exchange (IEX), Power Exchange of India (PXIL) and Hindustan Power Exchange (HPX). In the present scenario, buyers and sellers at each exchange do trading of electricity and discover spot price separately at these exchanges. After coupling of exchanges, the price discovery would be uniform. In a communique to the power regulator CERC, the ministry said, "Several stakeholders approached the Ministry of Power on the subject of market coupling in the context of multiple power exchanges. "The ministry of power has decided to go ahead with the process...CERC is requested to take suitable action, so that the process of consultation and the finalisation of the construct for its implementation i

A third player starts operations, pointing to the potential of this nascent business

The other two exchanges in the country are Indian Energy Exchange (IEX) and Power Exchange of India ltd (PXIL), of which IEX holds a 98 per cent almost monopoly on the total traded power in country

State-run power giant NTPC is mulling acquiring 5 per cent equity stake in Power Exchange of India Ltd (PXIL) that provides various electricity trading options, a senior official said.

Coal dominates Indian power generation but that is changing, with renewables accounting for more than 80% of new capacity last year, according to BloombergNEF

In future, the ministry is also looking at merging the DAMs of all power exchanges into one entity, which will oversee the trading of day-ahead bids for both renewable energy and conventional power

Here's a selection of Business Standard opinion pieces for the day

A single market-clearing price will not kill competition

Buyers can purchase electricity just an hour in advance; power generators can sell surplus anytime during the day

Manikaran Power Ltd joins hands with Indian Gas Exchange

PXIL faced financial crisis in 2017 when its net worth eroded and promoters of NSE and NCDEX wanted to shut it down prior to NSE's proposed initial public offering (IPO)

'Day-ahead' is a closed auction in which both buyers and sellers quote their prices daily between 10 a.m. and noon for delivery the next day

Move comes after finalising buyers, trading still remains low