MPL becomes the first member of the IGX platform
24 March 2020
The gas trading platform of the Indian Energy Exchange (IEX) has found its first member in Manikaran Power Ltd (MPL). Indian Gas Exchange (IGX), is India’s first gas trading platform.
IGX would offer spot and forward contracts at Dahej, Hazira, and Kakinada. While Petronet LNG Ltd (PLL) operates an LNG terminal at Dahej, Shell operates another one at Hazira. Kakinada is the landfall point for natural gas being produced from the Krishna Godavari basin.
IGX commenced its membership drive in February this year. MPL which is already trading member in IEX is the first to join hands with IGX.
MPL is an inter-state trading licensee and a trading member on IEX and trading cum clearing member on Power Exchange India Limited (PXIL). It was founded in 2008 by Navjeet Singh Kalsi and Jaspreet Singh Kalsi. The company has its headquarters in Kolkata and offices sprawled across Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Vadodara, and Ahmedabad.
MPL provides an electronic platform for trading of power at IEX and PXIL, documentation and assistance in bilateral trading of power, REC trading and group captive. Its website states that it has close to 2,000 clients in both power trading and RECs.