The Supreme Court has agreed to hear the Indian Energy Exchange’s plea against a CERC order that makes power market coupling mandatory for trading. While the court declined to stop the process for now, IEX claims the directive is arbitrary and could erode its market share. CERC has been asked to respond to the appeal.
In a rare move, SEBI implicated officials from another regulator in an insider trading case involving IEX. Investigators found a nexus between regulated entities and a CERC official that allegedly enabled unlawful gains exceeding INR 172 crore. The probe highlights an unusually direct modus operandi, marking the first time SEBI has linked another regulator’s officials in such a case.
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CERC has proposed regulations that would let Grid Controller of India Ltd function as a market coupling operator. The move is designed to standardize electricity pricing across different power markets, aiming to improve transparency and efficiency in trading while creating a more uniform mechanism for how rates are set.
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