Power bourse gets CERC nod

Power bourse gets CERC nod
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First Published: Thu, Sep 20 2007. 06 32 PM IST
Updated: Thu, Sep 20 2007. 06 32 PM IST
Mumbai: Software firm Financial Technologies India Ltd said on Thursday it had received approval from the the Central Electricity Regulatory Commission to set up a power exchange in India.
Financial Technologies, which promoted India’s Multi-Commodity Derivatives Exchange (MCX), will be the majority stakeholder in the Indian Energy Exchange (IEX), and is in talks with power trading firm PTC India Ltd for a 26% stake.
Other stakeholders will include utilities Tata Power Ltd, Reliance Energy Ltd , Adani Enterprises Ltd Infrastructure Development Finance Co Ltd and state-run Rural Electrification Corp, it said.
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First Published: Thu, Sep 20 2007. 06 32 PM IST