IGX Wins Diamond Award at India Smart Grid Forum Innovation Awards 2022
Indian Gas Exchange (IGX), India’s premier Gas Exchange, has been conferred the prestigious Diamond Award in the ‘Smart Start-up of the Year’ category at the 6th India Smart Grid Forum (ISGF) Innovation Award 2022.
March 07, 2022. By Manu Tayal
The award was received by Rajesh K Mediratta, MD and CEO of IGX along with his senior colleagues at the ceremony held in New Delhi recently.
While receiving the award, Rajesh K Mediratta, MD and CEO of IGX, said “we are truly humbled to accept this renowned award. This award is a testament to innovation and expertise in setting up India’s first gas Exchange with a vision to build the gas markets and to discover India’s own competitive and indigenous gas price benchmarks. Operational for about a year now, the Exchange has been successfully facilitating buyers & sellers to procure gas in the most transparent, flexible, secured and cost-efficient manner leveraging technology, innovation and best-in-class services. Our vision is aligned with the overall goal of building India as a sustainable energy economy. We owe this Award to our members, partners, shareholders and everyone associated with the organization. It certainly encourages us to continue our efforts with a renewed passion and vigor.”
IGX, a subsidiary of the Indian Energy Exchange Ltd, has 25 Members and 530+ registered clients. It offers delivery-based gas trade in 6 different contracts such as Day-Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly at 5 different designated physical hubs - Dahej, Hazira, Dabhol, Jaigarh and KG Basin. Currently, the trades can be executed for 3 consecutive months in different contracts.
The ISGF Innovation Awards are among the most prestigious awards under Smart Grid and Smart City domain. It recognizes individuals and organizations to encourage the scaling up of ground-breaking innovations. It is designed to identify emerging best practices in Smart City and Smart Grid implementations and to benchmark the excellence in service, as well as set realistic goals which other providers and vendors taking the same path can set for themselves.
IGX is India’s first automated national-level Gas Exchange for the physical delivery of natural gas. The Exchange envisions to architect India as a market-based gas economy. Powered by state-of-the-art technology, the Exchange provides a neutral and transparent marketplace to multiple buyers and sellers to trade in the spot and forward gas contracts at designated physical hubs. The Exchange is authorized and regulated by Petroleum and Natural Gas Regulatory Board.
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