MCX seeks nod for power exchange

The MCX has sought approval from the Central Electricity Regulatory Commission to set up a spot exchange for trading in power, a senior company official said today.

The new exchange will be called the India Energy Exchange, MCX Deputy Director Joseph Massey told the agency.

"The CERC had recently sought application for setting up exchanges for power trading. We have applied for it, given our market leadership and domain expertise in energy trading," Massey said.

He said the new exchange will target the short-term power market.The exchange has long-term plans to launch electricity contracts, subject to regulatory approval.