BSE files petition with CERC for development of new power exchange in India

Leading stock bourse BSE along with PTC India and ICICI Bank have filed a petition with the power market regulator CERC for grant of license to set up a new power exchange.

The proposed exchange will leverage on experience and expertise of its stakeholders in their fields knowledge of the power sector, funding of power projects and associated infrastructure, setting-up and running various bourses and platforms in the country, BSE said in a statement Monday.

The proposed power exchange will offer the market participants a credible power trading platform.

"BSE along PTC India Ltd and ICICI Bank Ltd have filed a petition with the CERC (Central Electricity Regulatory Commission) on September 7, 2018 for grant of license for setting up a new power exchange," the exchange said.

BSE -- formerly Bombay Stock Exchange- is Asia's oldest stock exchange and provides trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.