No power shortage, outages result of states' constraints: Power minister

R K Singh launches India's first Green Day Ahead Market

Asserting that there is enough coal stock in the country, R K Singh, union minister for power new and renewable energy said, there is no power shortage in the country.

There won't be any back down of power supply. There was no power shortage and it did not happen even before. If there is some outage, then that is because of states' constraints," Singh said.

He said the power plants in the country have close to 8 million tonnes currently. Since August, coal stocks have dwindled at the power plants, with 4 days stock left. Situation has improved lately with demand cooling off and coal supply ramping up.

Singh was speaking at the launch of the green day-ahead market (GDAM), the first for the country. This would entail trading of green energy in the day ahead market. There is a term ahead market for green energy at the power.

The power trading market currently has two platforms in India--PXIL and India Energy Exchange (IEX). IEX holds 95 per cent of the day-ahead spot power trading segment. PXIL holds 40 per cent market share in the term-ahead market and Renewable Energy Certificates (RECs). These exchanges have several power trading mechanisms–-term ahead, green term ahead, day ahead, intraday and real time market. Day ahead market entails trading of power a day before. Sellers are power generating stations and buyers range from power distribution companies (discoms), industrials and commercial consumers.

"We are opening doors for Renewable Energy. In this new era of continuous reforms including the launch of GDAM today, any interested party can set up and sell renewable energy," the minister said.

Grid operator Power System Operation Corporation (POSOCO), is the nodal agency and has set up the latest technologies and communication infrastructure for facilitating the Green Day-ahead Market, said the power ministry.