The case is expected to come for a hearing today around 2:15 PM, a CNBC-TV18 report said.
IEX shares today extended their Monday decline, falling nearly 6% in two sessions. The price action was accompanied by high volumes as nearly a crore shares changed hands on the NSE around 1:30 PM.
According to the CNBC-TV18 report, the counsel for the Central Electricity Regulatory Commission (CERC), on Monday, told the APTEL bench that the regulator will not implement market coupling till proper regulations are in place.
Meanwhile, Power Minister Manohar Lal Khattar had also indicated that the government’s stance on market coupling remains unchanged, the report added.
In the previous hearings, the electricity regulator’s counsel had sought time from APTEL to obtain instructions from the CERC on withdrawing the market coupling order.
The bench had then noted that it would be incorrect to assume that the 2025 ruling, norms, or orders will automatically continue, indicating that the previous directive may not be upheld.Meanwhile, the CERC had issued a fresh clarification on its July 2025 market coupling order, saying that the order should be read as “directions,” – a move that appears to have heightened investor caution.
CERC’s July 23, 2025, order introduced a market coupling mechanism – a structural reform that could potentially alter how electricity prices are discovered across power exchanges. The market sees this move as diluting the company’s dominance in price discovery, liquidity, and trading volumes.
IEX share price performance
The stock has fallen over 30% since the CERC order was passed, and is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 140.6 and Rs 161.4, respectively, according to Trendlyne data.
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