Indian Energy Exchange launches real-time electricity market
Energy trading platform Indian Energy Exchange on Monday launched the real-time electricity market (RTM) on its platform, a move that will help utilities buy and sell power just an hour before the requirement
Energy trading platform Indian Energy Exchange on Monday launched the real-time electricity market (RTM) on its platform, a move that will help utilities buy and sell power just an hour before the requirement. The RTM enables consumers, including distribution companies (discoms) and captive users, to buy power on exchanges just an hour before delivery.
The real time market is an endeavour by the regulator, CERC, to make the power market dynamic by enabling trade in electricity through half-hourly auctions, Indian Energy Exchange (IEX) said in a regulatory filing.
There will be 48 auction sessions during the day with delivery of power within one hour of closure of the bid session, the filing added.
"With the launch of RTM, the Indian energy markets are moving towards global standards of electricity trading and establishing the new energy order in the country. It will support the utilities in reducing dependence on grid deviation framework, of the order of 20 BU in fiscal year 2020," IEX Ltd CEO and Managing Director Rajiv Srivastava said.
Srivastava further said that the primary purpose of the real-time market is to allow utilities to manage their power demand dynamically, save on huge deviation related penalties and integrate renewables in an effective way.
"The new market segment will foster greater flexibility, competition and efficiency in electricity sector and address the emerging needs of the time," he added.
See Zee Business Live TV Streaming Below:
With the fast-paced shift towards renewable energy, the real-time electricity market will facilitate the distribution utilities to manage the challenge of intermittency associated with renewables, the filing said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Retirement Planning: In how many years your Rs 25K monthly SIP investment will grow to Rs 8.8 cr | See calculations
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
10:25 AM IST