IEX Shares Tank 10% After Regulator Clears Market Coupling for Day-Ahead Power Trade
Shares of Indian Energy Exchange Ltd (IEX) hit the 10% lower circuit on Thursday, July 24; Key points for investors
Shares of Indian Energy Exchange Ltd (IEX) hit the 10% lower circuit on Thursday, July 24, following reports that the Central Electricity Regulatory Commission (CERC) has approved the implementation of market coupling in the Day-Ahead Market (DAM).
As part of the first phase of these new regulations, DAM will be coupled by January 2026. Under this model, various power exchanges will rotate as Market Coupling Operators (MCOs) through a round-robin mechanism.
What Is Market Coupling?
Market coupling is a process that aggregates buy and sell bids from all power exchanges in the country to arrive at a single, uniform market clearing price (MCP). This means electricity traded across all exchanges will follow one uniform price point at any given time. While the change won't have an immediate impact on end consumers, it could eventually lead to lower power tariffs.
Impact on Power Exchanges
Once implemented, power exchanges will primarily act as platforms to receive bids and dispatch power, reducing their role in price discovery. The move aims to enhance transparency and efficiency in the power market.
IEX Share Price History
At 9:15 a.m., IEX shares were down 10% at ₹169.1 on the NSE. Over the past year, IEX shares have gained nearly 7%, outperforming the Nifty 50, which has risen around 3.3% in the same period.
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