IEX share price: Power exchange IEX’s share price crashed 15% in trade on Friday, touching a fresh 52-week low of Rs 116 apiece. On Thursday, the Ministry of Power announced its decision to permit market coupling and requested the Central Electricity Regulatory Commission (CERC) to begin the process. Market coupling ensures that the price discovery would occur outside of the power exchanges, which will lead to a uniform market clearing price, effectively threatening IEX’s dominance and business moat.
There are three key power exchanges that function across the country, Indian Energy Exchange (IEX), Power Exchange India (PXIL) and Hindustan Power Exchange (HPX); the price of power differs on every exchange.
