IEX Shares Plunge 11% Amid Market Coupling Uncertainty; APTEL Hearing on Jan 19

• IEX shares experienced extreme swings, falling over 12% from highs before recovering, then dropping again by 6%.
• The Electricity Appellate Tribunal (APTEL) set January 19 as the next hearing date for the market coupling case.
• CERC issued a circular stating its July 2025 order should be treated as a "direction" not an "order."
• APTEL questioned CERC on withdrawing the coupling order and urged it to act as an independent body.
• IEX argued that CERC's retrospective corrigendum is strange while the case is pending and that the coupling order must go.

Why It Matters: IEX shares are volatile due to ongoing market coupling uncertainty and the next APTEL hearing on January 19.