NTPC arm NVVN acquires 5% stake in Power Exchange of India

New Delhi-based NTPC Vidyut Vyapar Nigam Ltd (NVVN), a wholly-owned subsidiary of state-run power major NTPC, has acquired a 5% equity stake in Mumbai-based Power Exchange of India (PXIL). PXIL and India Energy Exchange (IEX) are the two power exchanges in the country and as per Central Electricity Regulatory Commission (CERC) norms, a trading member's shareholding in the power exchange is capped at 5%. However, a non-member's shareholding can go up to 25%. NVVN is one of India's top power traders. It was formed by NTPC in the year 2002, as its subsidiary to tap the potential of power trading in the country.