Union Railways Minister confers“Best Power Exchange Award 2014”on Indian Energy Exchange

Nov. 21, 2014 - PRLog -- 21 November, 2014, New Delhi:

Shri Suresh P. Prabhu, Union Minister of Railways, conferred the “Best Power Exchange 2014” on IEX at an Award ceremony held in the Capital recently. The Award ceremony was organised by the Council of Power Utilities. IEX has won the Award for the invaluable contribution made to the Power Sector.

Accepting the award on behalf of IEX, Mr. S.N.Goel, MD and CEO, IEX, said, “It is a great honour for us to receive the prestigious India Power Award 2014 for the first time. We are delighted to be recognised for conceptualising and operating a nation-wide automated platform driven by the state-of-the-art technology and characterised by liquidity, transparency, competition and risk management. Today, we are facilitating 3300+ stakeholders who are spread across 29 States and 5 UTs of which 2900+ are industrial open access consumers, to buy and sell electricity”.

The Council of Power Utilities had constituted India Power Awards in 2008. The Awards are aimed at recognising the contributions made by individuals and organisations in the Energy and Power Sector.

About Council of Power Utilities (CPU):

CPU is an umbrella organisation of power utilities in India. Established in 1983, the organisation aims at formulations of solutions of problems besetting the power supply industry through interaction between indigenous utilities and also between utilities of developed and developing countries.

About IEX:

IEX has emerged as India’s premier energy trading platform in a short span of six years. Currently, IEX operates Day-Ahead Market (DAM) and Term-Ahead Market (TAM) in electricity as well as Renewable Energy Certificate (REC) Market. The Exchange provides a transparent, demutualised and automated platform enabling efficient price discovery and price risk management for participants. IEX is approved and regulated by Central Electricity Regulatory Commission (CERC) and operating since 27 June, 2008.