The Indian Energy Exchange (IEX) and Japan Electric Power Exchange (JEPX) have entered into a Memorandum of Understanding (MoU) to jointly explore opportunities of cooperation in the electricity market.
IEX is India’s first and largest power exchange offering participants an automated platform to trade in electricity, Renewable Energy Certificates (RECs) and Energy Saving Certificates (ESCerts). Japan Electric Power Exchange operates physical short-term electricity markets in Japan.
The two energy exchanges will cooperate in technology-related information and share experience in product development and training in electricity trading through competitive market platforms and mutually beneficial commercial initiatives.
S.N. Goel, the managing director and CEO of IEX was quoted in a media statement, “The power exchanges in India have high growth potential. As the energy markets in India and Japan both have potential to grow, expand and diversify, I believe this collaboration with JEPX will ultimately benefit overall market development in both countries.”
Takashi Murakami, the chairman and CEO of JEPX, commented on the development as saying, “We are very much pleased to have close relationship with IEX in order to share experiences regarding full liberalization of electric power market.”
The scope of the MoU includes opportunities for training to augment electricity trading through competitive market platforms by organizing knowledge sharing programs. These initiatives would help both the organizations in explaining the electricity markets and learning the laws and rules pertaining to electricity trading in both the countries.
This collaboration would be beneficial for both exchanges and for the larger good of the power markets in India and Japan.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.