PTC buys 26% in Indian Energy Exchange

PTC India (formerly Power Trading Corporation of India), the country’s largest power trading firm, has taken 26% stake in the country’s first power exchange Indian Energy Exchange (IEX), which recently got regulatory approval. Tata Power (TPC), Reliance Energy (REL), Rural Electrification Corporation (REC), a consortium of Adani Enterprises (AEL) and IDFC are other stakeholders in IEX.

A power exchange is just like any other stock and commodity bourse, and acts as a platform for buying, selling and trading of electricity across India. At present, there is no such exchange in India and electricity is traded bilaterally at mutually agreed rates.IEX has been set up by Financial Technologies (India) and and Multi Commodity Exchange (MCX) for trading electricity

Source: Business Standard)

Tata Power offloads 4.2% in PTC for Rs 50 crore

Tata Power has sold 4.2% in PTC India in the open market for about Rs 50 crore. Tata group’s power generation arm was one of the early investors in PTC, formerly Power Trading Corporation. The partial stake sale comes at a time when PTC has announced it will raise Rs 1,200 crore from the market to fund expansion plans. Existing investors would be required to pump in more money or see their stake come down.

Just before the initial public offering (IPO) of PTC in March 2004, Tata Power was the single largest stake holder in the company having about 16% stake. In fact, its stake was higher than the individual holdings of the four PSU promoters — NTPC, NHPC, PFC and PGC. Tata Power’s holding came down after the IPO to about 10% and till June 2007 it remained the single largest equity holder.

(Source: Economic Times )

PTC to pick up 26% stake in MCX's Energy exchange

Power Trading Corporation (PTC) is likely to pick up 26% stake in the Indian Energy Exchange, the country’s first power exchange floated by multi-commodity exchange MCX. The power exchanges have been proposed by the government to develop a transparent market for power trading. Besides MCX, NCDEX, the other commodity exchange, is also likely to float a company to set up a power exchange.

MCX has offered us 26% in the proposed power exchange being operationalised by MCX. We have agreed in-principle to partner them and are evaluating the offer. We would soon decide on the level of our participation in the power exchange,” PTC chairman TN Thakur told ET.

Apart from MCX and PTC, the exchange may also get equity participation from financial institutions and power sector utilities, an official said.