Shares of Indian Energy Exchange are likely to remain in focus today as the Electricity Appellate Tribunal (APTEL) is scheduled to hear the company’s plea related to market coupling in the power markets.
Hearing date and time
The APTEL hearing for the IEX market coupling case is scheduled for today, January 19, 2026. The matter will be taken up in Court-1with proceedings set to begin at 10:30 AM IST.
What is the case about?
The case relates to IEX’s challenge to the market coupling directions issued by the Central Electricity Regulatory Commission (CERC) in July 2025. The CERC order proposed the implementation of market coupling in the day-ahead market (DAM)a move that could significantly alter how power prices are discovered across exchanges.
IEX has approached APTEL arguing that the proposed framework could impact competition and price discovery mechanisms currently followed in the power trading ecosystem.
What happened in the previous hearing?
During the earlier hearing on January 9, 2026APTEL deferred the matter and listed it for today. At that time, the tribunal clarified that market coupling will not be implemented until a formal regulatory framework is notified.
However, APTEL also observed that it cannot restrain CERC from continuing the regulatory process required to frame such regulations, even as the legal challenge remains under consideration.
Why the hearing matters
The outcome and observations from today’s hearing are being closely tracked by market participants, as any clarity on timelines, regulatory intent, or interim relief could have implications for IEX and the broader power trading market. Investors are watching the proceedings closely for cues on how quickly market coupling could move from proposal to implementation.
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