Energy exchange jumps 180% this year as India battles coal crisis
A bourse with a near monopoly in electricity trading in India is drawing attention as a severe coal crisis and the government’s intent to push ahead with reforms change dynamics in the nation’s power sector.
Shares of Indian Energy Exchange Ltd., whose platform is increasingly being accessed by power producers, distributors and corporates for their short-term energy needs, have soared 181% so far this year. That’s the second-best performance on the S&P BSE India Power Index after Adani Transmission Ltd.
Indian Energy Exchange has outperformed a gauge of power firms this year
IEX’s real-time market product has been a “game changer” as it allows companies to bid for their power requirements over next one hour, according to Meet Jain, an analyst with Mumbai-based LKP Securities Ltd.
