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An Energy Exchange Jumps 176% This Year as India Faces Coal Crisis

  • Indian Energy Exchange’s stock climbed in 10 of last 11 months
  • IEX’s real-time market product has been a ‘game changer’: Jain
Electricity pylons near a power station in Mumbai, India.
Photographer: Dhiraj Singh/Bloomberg
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A bourse with a near monopoly in electricity trading in India is drawing attention as a severe coal crisis and the government’s intent to push ahead with reforms change dynamics in the nation’s power sector.

Shares of Indian Energy Exchange Ltd., whose platform is increasingly being accessed by power producers, distributors and corporates for their short-term energy needs, have soared 181% so far this year. That’s the second-best performance on the S&P BSE India Power Index after Adani Transmission Ltd.