IEX Share Price Slide Near 2% Ahead of Electricity Tribunal Hearing on Market Coupling

On Thursday, 30 October 2025, shares of the Indian Energy Exchange Ltd. (IEX) fell by nearly 2% as the Electricity Appellate Tribunal set the stage for hearing the company’s updated plea on market coupling norms.

Market Coupling Plea Drives Uncertainty for IEX

The Tribunal had previously asked IEX to submit a revised plea after the 13 October hearing, leading to the inclusion of Grid Corporation of India, Power Exchange of India and Hindustan Power Exchange as respondents. 

The added parties bring fresh scrutiny to IEX’s role as the proposed market coupling operator for the Day Ahead Market (DAM). The first round of coupling is expected to launch by January 2026, which will see different exchanges acting as market coupling operators on a rotational basis.

Impact of Regulatory Approval and Share Performance

Following the Central Electricity Regulatory Commission’s approval of the market coupling framework in July, IEX shares had slumped 30%. The price later recovered but remains 20% lower year‑to‑date. Market participants are watching the tribunal’s outcome closely, as it may confirm or rescind the contractual framework that underpins the upcoming coupling implementation.

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Indian Energy Exchange Share Price Performance

On October 30, 2025, Indian Energy Exchange share price opened at ₹149.00 on NSE, above the previous close of ₹148.66. During the day, it surged to ₹149.32 and dipped to ₹145.86. The stock is trading at ₹146.31 as of 12:00 PM. The stock registered a moderate decline of 1.58%.

Over the past week, it has declined by 0.50%, over the past month, it has moved up by 5.12%, and over the past 3 months, it has moved up by 7.54%.

Conclusion

With the tribunal hearing imminent, IEX shares have reflected the heightened regulatory uncertainty surrounding market coupling. The inclusion of new respondents may determine the company’s future standing as a market coupling operator and the broader direction of India’s power trading landscape.

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