The tribunal, hearing the contentious market coupling regulations proposed by the Central Electricity Regulatory Commission (CERC), raised multiple concerns during the hearing, questioning how the market coupling rules were formulated. APTEL remarked that CERC should have acted independently while drafting the framework.
It also pointed to excessive theatrics observed in the formulation process and emphasized the need for CERC to maintain independence and remain above suspicion.
According to CNBC TV-18, the sharp upward move in IEX shares followed developments in the ongoing legal proceedings. APTEL has set January 9 as the next date for the hearing after counsel sought additional time.
Reports also suggest that the tribunal informed CERC that if it signals a potential withdrawal of the order, the case would be closed by Friday.
On Monday, the power exchange also shared its third quarter business updates for FY26. Indian Energy Exchange, the country’s leading electricity trading platform, recorded an electricity traded volume of 34.08 billion units (excluding TRAS) in the third quarter of FY26, reflecting a year-on-year growth of 11.9%.In the third quarter of the current financial year, improved supply from hydro and wind sources, along with steady coal-based generation, enhanced supply liquidity on the exchange platform. This contributed to a significant reduction in prices across key market segments.The Market Clearing Price in the Day-Ahead Market stood at Rs 3.22 per unit in Q3 FY26, registering a 13.2% decline from the same quarter last year. Likewise, the Real-Time Market Clearing Price dropped to Rs 3.26 per unit, down 11.6% year-on-year.
IEX ended Tuesday’s session at Rs 146.80 on the BSE, higher by 9.3%.
Also read: Rs 1 lakh crore wipeout! RIL shares sink 5% to log worst single-day fall since June 2024
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