IEX challenges CERC order on market coupling

The Indian Energy Exchange (IEX) late last month filed an appeal against a July 23 order by the power regulator that had directed stage-gated implementation of market coupling for the country’s electricity trading platform. The regulatory fiat had caused the IEX stock to plunge nearly 30% overnight in Mumbai trade.

The stock has since erased some of its losses, although it still trades more than a fifth lower from levels seen immediately before the July regulatory directive.