BL reported that Power Exchange India Limited, a JV of the National Stock Exchange and National Commodity & Derivatives Exchange has announced fee structure for trading members.

The trading cum clearing members have to pay a one time fee of INR 1 million and an annual fee of INR 250,000, while the trading members have to set aside INR 500,000 as one time fee and INR 100,000 as annual fee. Members would also be required to keep deposits according to the PXI rules.

The fee structure for professional clearing members, who will facilitate clearing for trading members, will be announced shortly. Recognizing the peculiarities of the power sector, a distinction, has been made within the TCM category as TSCM and TCM.

PXI, a nationwide spot exchange for power, will initially have only trade day ahead contracts. It will provide an open market place for all stakeholders in the sector, including generators, distribution companies, independent power producers, captive power producers, traders and so on who can participate either by becoming members of PXI or by becoming constituents of the members. The exchange is expected to be operational in a few months.