NEW DELHI: With coal production likely to reach 1.5 billion tonnes by 2030, the Centre has decided to set up coal exchanges to promote competitive markets for the sale of surplus thermal fuel. The Coal Controller Organisation has been appointed as the authority to register and regulate the trade bodies.Officials said the ministry of coal has already prepared the revised draft Coal Exchange Rules and sought comments and suggestions from stakeholders. These exchanges would facilitate the trading of coal as a commodity, and prospective operators will get authorisation from the CCO. A gazette notification appointing the CCO as the body to register and regulate the proposed exchanges was issued earlier this month.According to officials, several policy reforms in the coal sector have contributed to self-sufficiency and led to increased availability in the country. They added that coal production in India, which breached the 1-billion-tonne mark in 2024-25, is likely to grow beyond 1.5 billion tonnes by 2030. As per a recent report by the International Energy Agency, the country’s overall coal demand is also expected to rise by 17% over the next five years. With increased availability and demand for domestic coal, there would be a paradigm shift towards a surplus coal scenario, transforming existing sales mechanisms and necessitating market reforms backed by a regulatory framework.The CCO will have the authority to register the exchanges and revoke registrations, if need be, notify fees and other charges stipulated for the operation of exchanges, conduct market oversight, and keep a tab on their other activities. It will also notify guidelines and procedures for dispute and grievance redressal.Officials said the Mines and Minerals (Development and Regulation) Amendment Act, 2025, enacted by Parliament earlier this year, has empowered the central govt to promote the development of markets, including the trading of minerals, their concentrates or processed forms, through exchanges by framing rules and appointing an authority to register and regulate them.