India likely to get third power exchange owned by PTC, BSE by year end

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Pranurja Solutions had submitted the draft rules and bye-laws at the time of filing the petition, according to the CERC order issued on Wednesday

NEW DELHI: Power regulator Central Electricity Regulatory Commission (CERC) has approved registration to PTC, BSE and ICICI Bank-led Pranurja Solution Ltd to start the country’s third power exchange. Senior officials in the company said the exchange is likely to be operationalised by this year-end.

The other two power exchanges are Indian Energy Exchange and Power Exchange of India Ltd.

The commencement of operation of the power exchange is subject to approval of the bye-laws, rules, and business rules and the technology including trading software in accordance with various provisions of the Power Market Regulations (PMR) 2010. Pranurja Solutions had submitted the draft rules and bye-laws at the time of filing the petition, according to the CERC order issued on Wednesday.

On complying with the conditions, the registration of the power exchange will be in force for 25 years from date of commencement of operation, it said.

PTC India and BSE Investments Ltd own 22.62% each in Pranurja Solutions while 9.04% is held by ICICI Bank Ltd. In addition, there are 14 other investors including Greenko Energy, Jindal Power, Manikaran Power and Mercados Energy Markets, each of whom is having shareholding less than 5%.

State-run SJVN Ltd, Uttar Haryan Bijli Vitran Nigam and West Bengal State Electricity Distribution Company also own 3.17% each in the company.

Source :The Economic Times