CERC admits IEX plea seeking launch of renewable energy contracts

The Central Electricity Regulatory Commission (CERC) has admitted the petition filed by the Indian Energy Exchange (IEX) for the introduction of green power (renewable energy) contracts. IEX plans to introduce green day-ahead market based on collective transactions, comprising solar day-ahead contract and non-solar day-ahead contract, which will be applicable for merchant capacity.

 
According to IEX, renewable energy generators will get payment based on schedules and buyers will get more options to buy renewable power. This apart, renewable-rich states can sell power to renewable-deficit states, helping the latter meet their renewable purchase obligation (RPO).
 
IEX is currently operating the day-ahead market and term-ahead market in the electricity segment and the renewable energy certificate market. Its daily turnover is 113 million units in the day-ahead market. The average market-led electricity price was Rs 2.32 per unit for November.  CERC has asked IEX to implead the Power Exchange India and the PowerGrid Corporation of India’s wholly owned subsidiary Power System Operation Corporation as parties to the petition. CERC has slated the next hearing on IEX petition on January 24, 2017.