Overview
- IEX shares, which fell about 7% Monday, slid after the power regulator released a draft to introduce market coupling in India’s electricity market.
- The draft names Grid India as the market coupling operator that would receive anonymous bids from all exchanges, pool them, and set one clearing price, with separate prices only if transmission lines are congested.
- Power exchanges would still collect bids in a uniform format and send them securely to the operator, ending their direct role in price setting once coupling begins.
- CERC set May 16 as the deadline for public comments and directed Grid India to finalize a Power Market Coupling Procedure within six months, initially covering the Day‑Ahead and Real‑Time markets.
- In February, the Appellate Tribunal for Electricity dismissed IEX’s challenge to coupling, and IEX now touts record FY26 volumes as its board reviews Q4 results and a possible final dividend on April 23.