Power Exchange India Ltd (PXIL), an electricity trading platform advertised by the & # 39; National Stock Exchange & # 39; (NSE) and National Securities & Exchange Commission (NCDEX), plans to reinstate contracts & # 39; a day before & # 39; for the next six weeks.
The day-to-day contract is a two-way auction in which buyers and sellers claim their daily rates between 10 a.m. and at noon the next day, depending on the 15-minute-an-hour dress auction.
Launched at NSE, NCDEX and several major services such as its stock, PXIL has become a nonprofit and has suffered a major setback, resulting in its denial network rolling out in 2017. PXIL is now a zero credit company.
Over the last two years, the exchange has revitalized its operations, protected its core members and strengthened the & # 39; s contracts & # 39; and future & # 39; and & # 39; REC & # 39 ;, where it currently owns 50 percent and 30 percent of the stock, respectively. Now it is making a month-to-date profit, which has increased its networth net income to Rs 21.5 crore without the need for new capital from existing shareholders or new shareholders.
We have two years to meet the minimum threshold level of Rs 25 crore, that is achievable. Two motivating shareholders – the NSE and NCDEX – are confident. Now, we are looking to restart contracts & # 39; the day before & # 39; over the next six weeks, ”said Prabhajit Kumar Sarkar, Managing Director and Chief Executive Officer, PXIL.
By the end of the financial year 2020-21, PXIL aims to reach 30 per cent of the market's & # 39; s days before & # 39; based on the acceleration of the changes. Currently, the Indian Energy Exchange (IEX) controls about 99 per cent of this market.
We have a membership base of hundreds, with a leading generation and distribution companies registered on our platform or as a member or client. We are constantly making our efforts to expand our membership base without the need to reduce our customer fees, or annual fees or membership fees. We are in talks with the electricity and distribution companies, regional services and (we are engaged) on the Bhutan, Nepal and Bangladesh border border to expand our line, ”Sarkar said.
Currently there is a legal link between the Indian Securities and Exchange Commission (Sebi) and the Central Regulatory Commission (CERC). Currently, contracts under T + 11 (delivery up to 11 business days) are governed by CERC. Currently the Ministry of Labor is understood to intervene and there is hope that all physical delivery contracts will be under CERC, while financial contracts will be under Sebi's vision.
Hay & # 39; s Power Supply (PFC), Gujarat Urja, West Bengal and Madhya Pradesh state services, JSW Energy, Tata power Trading and GMR are other PXIL shareholders.
We have been in contact with members of the energy price chain to ensure transparency in the fairness of the commercial enterprise. In the absence of fair competition, one platform creates valuable innovation. By acquiring other equipment, traders will have access to healthy business opportunities, ”Sarkar said.
PXIL charges a fixed fee of Re 0.02 per unit for the standard size of buyers and sellers in addition to nominal fees and customer registration fees. All of these fees and costs are the same as industry standards and have remained unchanged for over a decade now.
With a completely updated technology tool, delivery of all its members and an active motivational team, PXIL is poised to restart the & # 39; day-to-day & # 39; and provides a competitive platform for all market participants.