IN RE: INDIAN ENERGY EXCHANGE LIMITED Vs. STATE

JUDGEMENT

(1.) INDIAN Energy Exchange Limited (IEX) has filed the present petition seeking revision of its Business Rules under Regulation 7(2) and 24 of the Central Electricity Regulatory Commission (Power Market) Regulations, 2010 (hereinafter referred to as "Power Market Regulations"). The petitioner has prayed for approval of revised Business Rules and contract specifications. The petitioner has made additional submissions vide affidavits dated 6.6.2014 and 27.6.2014.

(2.) AS per Regulation 24 of the Power Market Regulations an Exchange is required to function as per the Byelaws and Rules approved by the Commission. The said Regulation further provides for amendment of the Byelaws and Rules with the prior approval of the Commission. Further, the Power Exchange is required to submit the details of contract specifications as per Regulation 7 of the Power Market Regulations and modifications, if any, to the said contract specifications would require approval of the Commission.

(3.) THE petitioner has sought the approval of the Commission to the following amendments or modifications to the Business Rules of the Exchange: -