TEHRAN- The managing director of Iran Energy Exchange (IRENEX) said that the benefit of no power outage is 25 trillion rials (about $51 million) for the industries that buy green electricity.

In an interview conducted by IRIB, Ali Naqavi said that these benefits are in line with the instructions announced by the energy minister for the development of electricity trades in the IRENEX.

Subscribers who meet their electricity needs through the Green Electricity Hall of the exchange are exempt from consumption management program and will not be included in the power outage programs only to the extent that they buy electricity from the IRENEX, the official explained.

These benefits highlight the importance of sustainable energy policies, and the potential financial gains for businesses that adopt them, he highlighted.

Naqavi also noted that the calculation of these benefits was based on companies’ announcements regarding their performance compared to the same period in the previous year. This comparison illustrates the significant losses that companies could incur if they did not purchase green electricity and were included in consumption management programs, leading to production stoppages.

The first transaction was conducted at the Iran Energy Exchange’s Green Electricity Hall which was officially opened on May 22 in a ceremony attended by the country’s senior energy and stock market officials.

The opening ceremony of the mentioned hall was attended by Energy Minister Ali-Akbar Mehrabian, Head of Iran’s Securities and Exchange Organization (SEO) Majid Eshqi, and IRENEX Managing Director Ali Naqavi.

IRENEX is one of the four Iranian stock exchanges. The other three ones are Tehran Stock Exchange (TSE), Iran Mercantile Exchange (IME),  and Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB). 

MA