The fight to regulate power futures in the country is depriving traders from taking long calls on the commodity
The Central Electricity Regulatory Commission (CERC) and the Forward Markets Commission (FMC) are locked in a legal battle to decide who regulates the power futures market in India. The issue has been hanging fire for some time now and the FMC moved the Bombay High Court in November 2009 to settle the turf war. The court had suggested that since it is a matter between two exchanges, secretaries in the relevant ministries (power and consumer affairs) should try to resolve the issue.
Illustration: Abhijeet Kini(This story appears in the 19 February, 2010 issue of Forbes India. To visit our Archives, click here.)