Latest News | MCX Gets Sebi's Nod to Launch Electricity Derivatives

New Delhi, Jun 6 (PTI) Multi Commodity Exchange of India Ltd (MCX) on Friday said it has received approval from markets regulator Sebi to launch electricity derivatives.

The electricity derivatives contracts to be introduced by MCX will help power distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively, by enhancing efficiency in the power market, the commodity bourse said in a statement.

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"These contracts will offer participants a reliable, transparent, and regulated platform to manage power price risks, which are becoming more dynamic due to renewables and market-based reforms," Praveena Rai, MD & CEO of MCX, said.

"With India's growing focus on renewable energy and open access power markets, electricity derivatives can serve as a vital bridge between the physical and financial sectors," he added.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)