Indian Energy Exchange starts mock trading - official
MUMBAI (Reuters) - The country's first power bourse, Indian Energy Exchange (IEX), started mock trading for its members from Friday, days before its official launch, a senior IEX official told Reuters.
"IEX has started mock trading for its members from today," said Joseph Massey, director of IEX. The exchange plans to start power trading by the third week of February, an official of the IEX had said on Jan 9.
India, the world's second-fastest growing major economy, has an energy shortfall of 9 percent, according to the power ministry and an exchange may encourage power producers to add capacity, industry official said.
Financial Technologies (FITE.BO: Quote, Profile, Research), which controls Multi-Commodity Exchange of India (MCX), promotes IEX along with power trading firm PTC India Ltd (PTCI.BO: Quote, Profile, Research).
Other stakeholders include Tata Power (TTPW.BO: Quote, Profile, Research), Reliance Energy Ltd RLEN.BO, Infrastructure Development Finance Co Ltd (IDFC.BO: Quote, Profile, Research), Lanco Infratech (LAIN.BO: Quote, Profile, Research) state-run Rural Electrification Corp, and Adani Enterprises Ltd (ADEL.BO: Quote, Profile, Research).
(Reporting by Sourav Mishra; Editing by Ramya Venugopal)
© Thomson Reuters 2009 All rights reserved
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