HPX launches long duration contracts and executes first e-RA contract

Hindustan Power Exchange Limited (HPX) has successfully concluded its first e-reverse auction (e-RA) based long duration contract for Indian Railways.

The first e-RA trade on HPX’s platform has been executed between Indian Railways (buyer) and Jindal Power Limited (seller). Due to the efficient price discovery and ease of conducting auctions, the single side e-RA has become a preferred choice for buyers across the country. With innovative contract designing and payment security, the success ratio of these auctions has improved and led to increase in participation from power generating companies. The exchange simultaneously logged its highest single day volume of 36.18 million units on February 12, 2023.