IEX loss is PTC India's gain. Here's how power market coupling impacts shareholders
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Shares of PTC India surged 8.8% to an intraday high of Rs 206.90 on the BSE on Thursday after the Central Electricity Regulatory Commission (CERC) officially approved the implementation of market coupling in India’s electricity trading system. The announcement triggered contrasting reactions across power exchange-linked counters, with shares of Indian Energy Exchange (IEX) falling sharply by 26% while PTC India gained ground due to its stake in Hindustan Power Exchange—one of the expected beneficiaries of the new regime. What is market coupling? Market coupling, as announced by the CERC late Wednesday, involves the centralised matching of bids from various power exchanges to arrive at a uniform market clearing price. This move is aimed at achieving price convergence across different electricity markets and streamlining the process of price discovery. To begin with, the coupling will apply to the Day-Ahead Market (DAM) segment and will fol...