October 02, 2008

Press Release no.1

Power Exchange India gets CERC approval for launch

Power Exchange India Ltd (PXI), an exchange promoted by National Stock Exchange (NSE) and National Commodity & Derivatives Exchange (NCDEX) has received the final go ahead from Central Electricity Regulatory Commission (CERC) to start operations. PXI is now in the final stages of conducting mock trials with the Members and the National Load Despatch Centre (NLDC). PXI will commence operations over the next few days and initially offer day-ahead contracts for trading in spot electricity.

PXI has also forged a relationship with Power Finance Corporation (PFC) for providing access to finance to members of PXI who may want to procure electricity via the Exchange. PFC has also decided to pick up a 7% equity stake in PXI. Gujarat Urja Vikas Nigam (GUVNL), JSW Energy and GMR Energy are the other players who have already picked up equity stake in PXI.