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IEX assures 24X7 access to its power trading platform during lockdown

Several stakeholders have also been concerned about availability of 24X7 power at this point of time.

PTI|
Last Updated: Mar 28, 2020, 04.17 PM IST
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IEX
The company estimates that rates may continue to be on the lower side as the COVID situation unfolds, it said.
New Delhi: The Indian Energy Exchange (IEX) on Saturday assured distribution utilities of 24X7 access to its platform during the lockdown period.

According to a statement by IEX, there is adequate power supply available on its platform and it urged all stakeholders to leverage the exchange cost to ensure 24X7 power supply to essential services, particularly the stressed healthcare sector.

IEX is confident that the consumers need uninterrupted power supply now especially in times of need when thousands of employees of corporate India are working from home, it added.

Several stakeholders have also been concerned about availability of 24X7 power at this point of time.

The average price for March is currently at Rs 2.49 per unit and average price since March 22 is at Rs 2.15 per unit, it said.

The company estimates that rates may continue to be on the lower side as the COVID situation unfolds, it said.

The utilities are urged to leverage current low costs to ensure that critical sectors like healthcare, public utilities, businesses can ensure business continuity in the wake of COVID-19 and provide 24X7 power supply so that end-consumers do not struggle with power-cuts at this critical time.

Team IEX has been working relentlessly to provide round-the-clock operations with seamless connectivity and security to enable availability of power to all on a 24*7 basis. Our transparent and competitive price discovery mechanism ensures lowest possible price and supports utilities to relieve the stress on the procurement costs.

Rajiv Srivastava, CEO & MD, IEX Ltd, said in the statement.

While demand from industry and commerce has reduced owing to the lockdown, it has heightened in many other areas: domestic demand through work from home models, healthcare infrastructure and utilities, it added.

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