Indian Energy Exchange (IEX) wants the SAARC members to consider having a ‘SAARC-based power market’, a regional power exchange. IEX is open to operating as a regional power exchange.
“Exploring the development of a regional power market involving SAARC countries that already have interconnection, as well as those that have planned interconnections is needed,” said Rajesh Kumar Mediratta, Director-Business Development, IEX.
Establishing a regional power exchange would maximise the potential for power transfers among SAARC regions, reduce power shortages, and will also take advantage of the economic benefits, he said.
SAARC Energy Trade Study (SRETS) along with the Asian Development Bank has commissioned a study on regional power exchange.
Mediratta and Akhilesh Awasthy, Director-Operations, IEX also spoke about the annual conference of the global power exchange to be held here from November 5. The conference titled APEx 2012 will also discuss the concept of SAARC-based power market.
The conference will see the participation of more than 30 power bourses worldwide, including those from the US and Germany.
“The conference of Association of Power Exchanges (APEx) will focus on various topics related to power exchanges and markets globally. We will discuss the trends in the European power market such as their integration,” Awasthy said.
Indian power market is at a nascent stage and currently there are only two exchanges — IEX and Power Exchange India Ltd (PXIL).