Q1-FY24 · Satyanarayan Goel
Grid Code supersedes all PPAs. The scheduling mechanism indicated in the Grid Code supersedes the PPA, and as per that, the generators will be now free to sell URS power on the exchange platform.
IEX / language trends
Read confidence between the lines.
Indian Energy Exchange · tone and specificity signals across the available quarters.
Research layer active
Language signals
What changed in management language.
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Q1-FY24 · Satyanarayan Goel
In the current scenario, where in India we have voluntary market and the transactions through the exchange is just about 6-7%, there is no case for the market coupling.
Q1-FY24 · Satyanarayan Goel
I'm sure about one thing, that gas exchanges, as I have always mentioned, that will definitely do as good as IEX.
Q1-FY26 · Satyanarayan Goel
We are not working on retaining 40%-50% market share. We are working to retain the present market share.
Q1-FY26 · Satyanarayan Goel
There are 17 years to replicate this.
Q1-FY26 · Satyanarayan Goel
We don't see any benefits, but then it is a regulatory decision.
Q2-FY24 · Satyanarayan Goel
We do believe that current market operations of IEX will continue undisturbed.
Q2-FY24 · Satyanarayan Goel
The overall philosophy of transmission planning has changed. Efforts are made to enable adequate transmission capacity addition, which will secure a congestion-free transmission system and reduce volume loss due to congestion.
Q2-FY24 · Rohit Bajaj
We have seen historically, prices are lowest at this particular segment.
Q2-FY25 · Rohit Bajaj
I am very sure coupling is not going to happen, so let us not worry about that. And in case coupling happens, we have ways and means to ensure that we are able to retain our market share.
Q2-FY25 · Rohit Bajaj
We wanted to be rational in charging our fees.
Q2-FY25 · Rohit Bajaj
As India marches towards achieving its net zero target, there is bound to be a growing role of power exchanges in the country's energy landscape, and IEX shall continue to be part of this journey.
Q2-FY26 · Rohit Bajaj
We are not aware about any developments which have taken place so far. To the best of our knowledge, so far, nothing like that has happened.
Q2-FY26 · Rohit Bajaj
If you look at the order, the commission has not taken any view regarding the implementation of RTM. They have said that, looking at the time constants and based on the experience, it will be considered.
Q2-FY26 · Rohit Bajaj
I can tell you one thing. In the Term Ahead Market, all three exchanges are active, and there also, the price war is not there. I don't see any such situation that after coupling, there will be a price war in the DAM market.
Q3-FY24 · S.N. Goel
With improving coal production and inventory and easing coal and gas prices, we expect rationalization of power price on the exchange and volumes to further improve in the coming few months.
Q3-FY24 · S.N. Goel
In the present arrangement, there are three exchanges. These three exchanges are competing with each other, so if you do the coupling, it will stifle the competition and innovation.
Q3-FY24 · S.N. Goel
We are now exploring the option with the GIFT City, to launch this exchange from the GIFT City so that we can do dollar-dollar transaction.
Q3-FY25 · Satyanarayan Goel
If Indian economy has to grow at a rate of 7%-8%, then power demand in the country has to definitely grow at a rate of 6%-7%. And if that happens, we are quite confident that we will be able to achieve a growth of 15%-20%.
Q3-FY25 · Satyanarayan Goel
In case of coupling, we are doing a lot of customer-centric activities to ensure customer loyalty, and we should be able to retain a significant market share.
Q3-FY25 · Satyanarayan Goel
If you look at the order of CERC dated 6th of February, in that order itself, CERC has mentioned that if one of the exchanges has 99% market share, and as the common sense will say, coupling 99% with 1% will not lead to any benefit.
Q3-FY26 · Rohit Bajaj
First of all, why, why are you saying that if things don't be go in our favor? Things will definitely go in our favor.
Q3-FY26 · Satyanarayan Goel
In case of depositing money, it is not promoting the renewable energy. So we should continue with the existing process.
Q3-FY26 · Satyanarayan Goel
We have made our submissions with the honorable commission, that in case of REC, you know, REC is based on the green generation of green power.
Q4-FY24 · Satyanarayan Goel
We are very optimistic for what lies ahead, and with that, we will be able to increase this growth further in the coming years.
Q4-FY24 · Satyanarayan Goel
If the demand increases by 7%-8%, we should be able to grow more than 15% each year.
Q4-FY24 · Satyanarayan Goel
I think there is no point in talking about if coupling happens. I think it is a long way to go, many more years for that to happen.
Q4-FY25 · Rohit Bajaj
The overall short-term market in India remains stable... the share of power exchanges has grown to 9% of overall generation from 7% in FY 2024.
Q4-FY25 · Rohit Bajaj
We are expecting approval for 11-month contracts. If we get that in the next two, three months, then there is additional 40 billion unit annual potential.
Q4-FY25 · Satyanarayan Goel
We are looking for some diversification opportunity. As and when something materializes, we will come back to you.
Q4-FY26 · Satya Narayan Goel
We have been achieving a volume growth of 15 to 20% every year and this year in fact the demand is also going to be high. So with the new capacity additions and demand increasing we should be able to maintain this volume growth of 15 20%.
Q4-FY26 · Satya Narayan Goel
I can only give you one example that in case of the termat market where the liquidity is practically uniform across all three exchanges the share of all three exchanges is in that same range of I mean 40 50% 30% 20% kind of numbers so in that market that market is operating from the last four years and in that market also the margins are intact.
Q4-FY26 · Satya Narayan Goel
We are not using AI for the price discovery. Price discovery is by our MIP based algorithm which is a linear programming based model.