MCX launches India’s first electricity futures
Mumbai-based Multi Commodity Exchange (MCX) launched India's first electricity futures contract on January 9.
MCX has received approval from the regulator, the Forward Markets Commission (FMC), for weekly and monthly electricity contracts. The first trade was a March monthly contract at 7,300 Rupee (Rs) per MWH.
"Market participants are exposed to price risk due to uncertain demand and supply a well as volatile prices," says Joseph Massey, managing director and chief executive of MCX. "The launch of electricity futures will smooth the price curve in the medium to long run, which will help market
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