As per The Moneycontrol report, IEX experienced a noticeable price decline following a regulatory ruling that permits the Central Electricity Regulatory Commission to proceed with market coupling rules, a development that could alter price discovery across Indian power exchanges.
On February 13, 2026, Appellate Tribunal for Electricity (APTEL) dismissed IEX’s request to stay the implementation of market coupling. The ruling enabled CERC to continue framing the new framework.
Within minutes of the announcement, IEX shares were trading 3.5% lower at ₹121.51. By the close, the stock recorded a 4% decline.
Market coupling creates a single clearing price for electricity by aggregating bids from all recognised power exchanges.
Under the upcoming scheme, Grid India will publish a unified day ahead price that replaces separate price formation on IEX, Power Exchange of India and Hindustan Power Exchange.
The uniform price is expected to reduce the pricing advantage previously enjoyed by IEX, potentially affecting trading volumes and margin structures.
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Before the regulatory change, IEX held roughly 85% of the market share in both day ahead and real time segments. The exchange provides an automated platform for physical delivery of electricity, renewable energy, and related certificates.
With market coupling, buyers and sellers will submit bids to a central agency rather than to individual exchanges, diminishing the incentive to trade exclusively on IEX.
As of February 13, 2026, at 12:40 PM, Indian Energy Exchange share price on NSE was trading at ₹123.81 down by 1.67% from the previous closing price.
The APTEL dismissal of IEX’s plea marks a regulatory shift that could reshape price formation in India’s power markets. The immediate 4% share decline mirrors market anticipation of reduced dominance for the exchange.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 13, 2026, 1:54 PM IST
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