IEX launches two new contracts for renewable energy trading

Power trading platform Indian Energy Exchange (IEX) has expanded its delivery based green market with the launch of two new products – Green Daily Contract and Green Weekly Contract. In a press release, the exchange said that trading in the new contracts in both solar and non-solar segments will commence with immediate effect. With this launch, IEX Green Market now has four contracts, and offers greater choice to the market participants to buy renewable energy on the same day and upto 11 days ahead.

The daily and weekly contracts will enable market participants to trade in on energy basis (MWh) with the bidding taking place for 15- minute time blocks. IEX said that trading in energy terms will help to address the intermittency issues involved in renewable energy procurement. Further, this will also assist market participants to minimise deviations as well as related penalties. The energy will be delivered leveraging the national, regional and state level transmission network.