India’s first gas trading platform launched
On June 15, 2020, the Indian Energy Exchange launched the first gas trading platform. The platform was inaugurated by the Minister of Petroleum and Natural Gas Dharmendra Pradhan.
The Indian Gas Exchange, the online gas trading platform will act as a subsidiary of Indian Energy Exchange and is to be launched in July 2020. It will be the first online gas trading platform for physical delivery of natural gas. The trading of natural gas in the platform is to be done in rupees. The minimum lot size allotted is 100 million British Thermal Unit (MBTU).
India Energy Exchange
The India Energy Exchange is an electronic system regulated by the Central Electricity Regulatory Commission. It began its operations in 2008. The headquarters of IEX is located in New Delhi. The development of power trading in India was pioneered by Indian Energy Exchange. It comprises of power traders, state electricity board, power producers and open access consumers.