On 16th September 2025, the Ministry of Coal published the draft Coal Exchange Rules, 2025 and invited public comments on the same. 

The establishment of the Coal Exchange is a welcome initiative, and could contribute to better resource utilisation, sector innovation and safeguarding of consumer interests. Given the wide ranging impacts of the Coal Exchange, the regulation of such a platform is crucial and will impact the effective functioning of the exchange. The draft Rules introduce the Coal Controller Organisation (CCO) as the authority to register and regulate the Coal Exchange.  

The inputs from Prayas (Energy Group), a long-time proponent of a regulated coal exchange, is aimed at further strengthening the independence, transparency and effectiveness of the CCO as the proposed regulator of the Coal Exchange and includes the following: 

• Ensuring independent operations from the Regulator
• Requiring trade of all approved contracts to be on the Exchange
• Mandating transparency in Regulator operations
• Ensuring that CCO Regualtions, when published, are subject to pubic consultations before finalisation