Submits revised proposal for power exchange

The National Commodity & Derivatives (NCDEX) and National Thermal Power Corporation (NTPC) have submitted the revised power exchange proposal to the Central Electricity Regulatory Commission (CERC).

The CERC had sought some clarifications on the proposal filed by the NCDEX-NTPC. The NCDEX officials are hopeful of getting the licence soon, as the project has already received the government nod.

"We were asked to submit a revised proposal of the project with some clarifications regarding the structure of the proposed power exchange. We have already submitted the revised proposal with the required clarifications. The government has given the in principle approval for the project. It will be launched after the proposal is okayed by the CERC," said Shrikant Subbarayan, Chief Business Officer, NCDEX.

PowerGrid Corporation, the National Stock Exchange, Tata Power, National Hydro Power Corporation and Power Finance Corp are also partners in this venture.

Recently, the Multi Commodity Exchange (MCX) and Financial Technologies (India) (FTIL) received approval for a power exchange.