Power Exchange India Ltd (PXIL) has signed a memorandum of understanding with Korea Power Exchange (KPX) to work together in overseas power markets.
PXIL is a joint venture of the National Stock Exchange (NSE) and the National Commodity & Derivatives Exchange (NCDEX).
“We hope this association will help our objective of transforming the Indian electricity market. This MoU will bring in a global perspective, which will help us create a benchmark in the areas of operations and product offerings,” said Ms Rupa Devi Singh, Managing Director and Chief Executive Officer, PXIL.
PXIL has always focused on enabling its participants to effectively manage their energy requirements with a fair price discovery mechanism, she added.
The priority areas identified for cooperation are sharing of information regarding power markets; cooperation on improvements of competitive electricity markets; training employees to enhance their understanding of the electricity markets; and sharing expertise, including new business initiatives such as REC trading.
Mr Ho-Ki Nam, Chairman and Chief Executive Officer, KPX said, “As a neutral entity, KPX has played an important role in developing the electricity market in South Korea. This MoU will broaden the area of mutual cooperation between KPX and PXIL. I truly hope that this collaboration and PXIL’s high performance will help us understand the operation of the Indian electricity market.”