Nepal becomes first country to trade on IEX’s cross-border platform
Nepal has become the first one to trade on the newly launched Cross Border Electricity Trade (CBET) segment of Indian Energy Exchange (IEX).
Image source: T&D India
Nepal, Kathmandu: Nepal has become the first one to trade on the newly launched Cross Border Electricity Trade (CBET) segment of Indian Energy Exchange (IEX).
In a release, IEX said that Nepal traded on the day-ahead market of the CBET, on 17 April 2021. Bhutan and Bangladesh are expected to join soon.
It may be recalled that in April 2021, IEX launched the CBET platform. This is seen as a first-of-its kind initiative for energy exchanges to expand their power markets beyond India to the South Asia region towards building an integrated South Asian regional power market.
Following the notification of CBET Regulations by CERC in 2019 and the notification of CBET Rules in March 2021 by Central Electricity Authority , NTPC Vidyut Vyapar Nigam Ltd (NVVN), a subsidiary of NTPC, secured approval from the CEA, for Nepal’s participation in the day-ahead market on IEX.
“Nepal is the first country to avail the benefit of buying day ahead power from power exchange through NVVN. This is a new beginning in the South Asian region. We also aspire to work closely with Bhutan and Myanmar in the future,” commented, Mohit Bhargava, CEO of NVVN.
Source: T&D India
#Cross Border Electricity Trade#Indian Energy Exchange#Nepal