HPX Concludes 1st e-Reverse Auction

Hindustan Power Exchange Ltd. (HPX), India’s third power exchange that counts PTC India Ltd, Bombay Stock Exchange, and ICICI Bank among its key backers has successfully concluded its 1st e-Reverse Auction (e-RA) based long duration contract for Indian Railways on February 12. The exchange simultaneously logged its highest single day volume of 36.18MUs.

The first e-RA trade on HPX’s platform has been executed between Indian Railways (buyer) and Jindal Power Limited (seller).

In a release, the exchange says that due to the efficient price discovery and ease of conducting auctions, the single side e-RA has become a preferred choice for buyers across the country. With innovative contract designing and payment security, the success ratio of these auctions has improved and led to increase in participation from power generating companies.

Further, HPX traded its highest single day volume of 36.18 MUs on February 12. Within a short span of around 7 months, India’s third power exchange has already garnered more than 55% share in the contingency/intra-day market segment and has ~450 market participants.

HPX says that volumes under contingency segment on HPX have seen a sizeable pickup since launch with total settlement of more than Rs. 2500 crore on the platform till date. Almost all major state discoms, generators and traders are now registered on the exchange.

Backed by the latest technology and a series of innovative features, the exchange terms itself the fastest power exchange in India promising to offer speed, transparency, and better price discovery in the execution of trades. The exchange is presently offering trading in Contingency contracts, Green Contingency contracts, Long Duration Contracts, Term Ahead Market (TAM), Renewable Energy Certificates (REC), Energy Saving Certificates (ESCerts), Day Ahead Market (DAM), Green Day Ahead Market (G-DAM) & Real Time Market (RTM), with trade in the last three segments yet to gather momentum. The exchange is steadily increasing its product portfolio and is set to provide a wide range of contracts to address the demand of different segments of the electricity market.