HPX Crosses 100 MUs Of Traded Power In Month 1

By Saur News Bureau/ Updated On Thu, Jul 21st, 2022

Highlights :

Promoted by PTC India, BSE, ICICI Bank, HPX reached the milestone in 15 days of its commencement of operations

The newly launched Hindustan Power Exchange Ltd. (HPX), that commenced operations on July 6, has made a bright start with the exchange claiming a 37% market share of the ‘contingency trading’ market within a fortnite of its launch.

Promoted by PTC India Ltd, Bombay Stock Exchange, and ICICI Bank, it crossed the100 MUs mark on July 20.

HPX is now the number two exchange in the country in the segment it launched (Contingency). The peak volume achieved at HPX in first 15 days stands at 15 MUs while the daily average volume of 7.5 MUs has been registered at the HPX platform till date.

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Backed by the latest technology and a series of innovative features, the third power exchange of India promises 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, and Renewable Energy Certificates and launching Day Ahead Market, Green Day Ahead Market & Real Time Market soon. It 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.

HPX promoters – BSE, PTC and ICICI are the leading institutions in their respective field and such combination represents unique blend of expertise and skillset. Apart from the three promoters, several power sector entities including Government utilities, Independent Power Producers (IPPs), Power Traders, Distribution Utilities, sector consultants and others have reposed faith in the company through their investments in HPX. That has given HPX a real headstart in terms of its first cohort of users and clients, and it will not be upto the exchange to make the most of the opportunity, as it goes up against the market leader, IEX.

Based on the same technology platform that powers the Bombay Stock Exchange (BSE), HPX hopes to make significant strides in its first year itself, as India’s power trading market continues to expand.