Indian Energy Exchange (IEX) shares will be in spotlight as the Central Electricity Regulatory Commission (CERC) has approved market coupling in the Day-Ahead Market (DAM), to be implemented by January 2026. What is Market Coupling? • All buy and sell bids from every power exchange will be pooled together. • A single uniform market clearing price (MCP) will be discovered for electricity. • Exchanges will rotate as Market Coupling Operators (MCOs) using a round-robin system. Impact of the Move: • Power exchanges (like IEX) will become bid-collection platforms only. • Power will be dispatched and priced uniformly across all exchanges. • No immediate impact on consumers, but it may lead to lower power tariffs over time. Why is the Govt Doing This? • To encourage more trading via exchanges vs. long-term power purchase agreements (PPAs), which often span 25 years. • To improve price transparency and competition in the power market. Stock Performance: In the last 1 year, IEX shares have gained ~7%, compared to 3.3% rise in Nifty 50. In short: A key structural reform is coming to India’s power market, and IEX is in the thick of it. Keep this stock on your radar.

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