Real-time power market expected to start from June 1: IEX

Real-time power market is expected to start from June 1 without any bearing of COVID-19 on it, an official of the Indian Energy Exchange (IEX) said.

The real-time power market (RPM) enables consumers, including distribution companies (discoms) and captive users, to buy power on exchanges just an hour before delivery.

"So real-time market we expect to start from June 1...we have been regularly in touch with all these distribution companies and most of them are fully prepared, they are geared up for participation in real-time market and we do not see any impact on account of COVID-19 as of now," said Rohit Bajaj, Head Business Development, IEX during an earnings conference call held on May 15.

Bajaj was responding to a question on launch of real-time market on June 1 amid the nationwide lockdown to contain COVID-19.

The government had imposed lockdown on March 25, which has been extended thrice, albeit with relaxations.

Earlier in March, power regulator CERC had decided to defer the implementation of real-time power market till June 1 amid the coronavirus outbreak.

Initially, the real-time market was scheduled to start from April 1 this year.

Bajaj told investors and analysts that IEX recently conducted a webinar on real-time market, and there was huge participation with most of the states participating.

He further said, "We did mock (trial) also sometime back and today all of them have installed our software on their platform and they are doing it, that is one part. Second is we are also helping them in creating capacity to ensure that they are in a position to optimally utilize this new platform."