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| CERC approves third power exchange, NTPC as promoter |
| Press Trust of India / New Delhi Jul 03, 2009, 14:34 IST |
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Power regulator Central Electricity Regulatory Commission has given its nod to state-run NTPC, NHPC, PFC, and Tata Consultancy Services for setting up a power exchange.
"The joint venture company of NTPC, NHPC, PFC and TCS has been granted in-principle approval to set up and operate a National Power Exchange (NPEX)," NTPC informed the Bombay Stock Exchange.
NTPC signed an agreement with NHPC, PFC and TCS last year to set up the country's third power exchange, after it parted ways with NCDEX upon failing to reach a consensus on certain key issues.
India Energy Exchange (IEX), the country's first power trading platform, was launched in November 2007 by MCX, with PTC, Tata Power, Infrastructure Development Finance Company, Reliance Energy, Rural Electrification Corp, Adani Enetrprises and Lanco Infratech as promoters.
Shares of NTPC were trading at Rs 202.60, up 1.38 per cent on the BSE.
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