POWER EXCHANGE OF INDIA LTD, MUMBAI Vs. STATE

JUDGEMENT

(1.) IN this petition filed under Regulation 64 of the Central Electricity Regulatory Commission (Power Market) Regulations, 2010 (the Power Market Regulations) the petitioner seeks clarification on the scope and ambit of activities of a member of the power exchange who is neither an electricity trader nor a distribution licensee/deemed distribution licensee nor a grid connected entity, in the light of Regulation 26 of the Power Market Regulations. In order to understand the scope of the present petition it is first necessary to take note of the background facts.

(2.) THIS Commission in its order dated 24.12.2009 in Petition No 117/2009 wherein two power exchanges established with the approval of this Commission were impleaded as respondents had directed as under:

(3.) IT is clear that the scope of the above provisions is that a member of the power exchange who is neither a trading licensee nor a distribution licensee/deemed distribution licensee nor a grid connected entity can provide only three services to its clients, namely services of IT infrastructure, advisory and facilitation procedures. No other service can be provided by such a member though by way of illustration and without intending to be exhaustive, it is emphasised that in such cases the provision for credit or financing or working capital facilities by such members shall be prohibited.