Read more about IEX in demand after good biz update for May on Business Standard. Indian Energy Exchange (IEX) jumped 3.01% to Rs 365.60 after the exchange said it traded 6,540 MU of electricity volume in May 2021 achieving 9% year on year growth amidst continuation of the COVID-19 lockdowns as well the cyclonic disturbances.
Reconciling India’s Climate and Industrial Targets: A Policy Roadmap.
Introduction
India has performed remarkably well in terms of its climate trajectory over the past decade. From 2005 to 2014, the country’s GHG-emission intensity declined by 21 percent.
[1] According to Climate Transparency, India is the only G20 nation on-track to achieve the targets under the Paris Agreement.
[2] One of the key, albeit unfortunate, reasons behind India’s climate success is the underperformance of its manufacturing sector. Since industries constitute approximately one-fourth of the economy’s total GHG emissions,
[3] the sector’s sluggish growth has led to only a moderate increase in industrial power demand and emission-intensity of the gross domestic product (GDP).
On a consolidated basis, Indian Energy Exchange (IEX) reported 35.1% jump in net profit to Rs 61.5 crore on 26% rise in total revenue to Rs 100.3 crore in Q4 FY21 over Q4 FY20.
On the segmental front, Power exchange business recorded 28.3% year-on-year rise in revenue to Rs 101.81 crore during the quarter. The Gas exchange business recorded a revenue loss of Rs 0.74 crore in the fourth quarter compared with revenues of Rs 0.21 crore in the same period last year.
EBITDA increased 34.2% to Rs 83.9 crore in Q4 FY21 compared with Rs 62.6 crore in Q4 FY20.
Electricity Volume increased by 62.1% to 22428.4 million units (MU) in the fourth quarter as against 13,835.1 MU recorded in the same period last year.
10 March 2021
The NSW government has significantly ramped up energy efficiency targets under the state’s Energy Saving Scheme, that it says could deliver $2.4 billion in reduced energy costs for businesses and households.
NSW energy minister Matt Kean announced on Wednesday that the state government would increase the state’s energy saving target from 8.5 per cent to 13 per cent by 2030, which will require electricity retailers to invest in more energy efficiency measures.
Under the Energy Savings Scheme, electricity retailers are required to meet the energy saving targets by supporting the replacement of appliances with energy efficient alternatives, including light bulbs, air conditioning and heating systems.
Indian Energy Exchange (IEX) on Tuesday announced further divestment of 5% equity stake in the Indian Gas Exchange (IGX) to GAIL (India).GAIL (India) will purchase 36,93,750 equity shares, having a face value of Rs 10 each, of IGX for a cash consideration of Rs 3.69 crore. The deal will be completed within a period of ten days from the date of execution of the share purchase and shareholders agreement. The announcement was made during trading hours today, 9 February 2021.
Speaking on the development, S N Goel, the chairman of IEX and director of IGX, has said that: With strong impetus from the government to create a conducive policy and regulatory framework, gas markets are on the cusp of breakthrough growth. Competitive domestic gas markets are crucial to build a gas-based economy. In line, IGX is pro-actively working in collaboration with the stakeholders to build gas markets ecosystem in the country. We are delighted to welcome GAIL onboard as our partner and unite our strengths