With Russia’s invasion of Ukraine, there have been repercussions that the global energy space has had to grapple with. Coal prices have seen a surge making matters tough for the Indian power sector.In an interview with CNBC-TV18, SN Goel, chairman and managing director, Indian Energy Exchange (IEX), said that the price of imported coal and LNG are posing a challenge for the power sector. He explained that the market clearing price has increased to over Rs 4 per unit. Goel feels that Indian government's help is needed in order to increase liquidity in the short-term market.Goel said, "The market clearing price for power this year has increased slightly; it is Rs 4 plus and in particular in the month of March now, since the demand has suddenly increased in the country, the price has also increased. It is also because the price of imported coal and LNG have increased almost three-four times, making it unaffordable for the power sector."On exchange volumes, he said, "IEX in the exchange market is the leader and we have almost about 90 percent plus market share but the share of exchanges in the total power division in the country is only about 7 percent today. It is much lower in India. But if you look at that developed countries, the exchange volumes are almost about 40 to 50 percent- they are very liquid markets, very competitive. Indian government is also now working towards creating more liquidity in the short-term market."The energy exchange expects to see increased activity in green markets, Goel mentioned. Additionally, he mentioned that IEX is working on new products in the ancillary markets.He said, "We also started green market where the renewable power can be traded. We also started cross border trading. Because of new products and customer-centric activities carried out by the company, these factors have been responsible for significant volume increase, which was almost about 30-35 percent.""We are also working on new products in the market. We are working on the ancillary market, we are working on capacity market, the new products, long duration contracts is also one thing which we have applied to the regulator, we are expecting the approval shortly," he said.Watch the video for the full interview.