Power Exchanges start real-time electricity market with 48 auctions a day

Buyers can purchase electricity just an hour in advance; power generators can sell surplus anytime during the day

The country’s two power exchanges — Indian Energy Exchange (IEX) and Power Exchange India (PXIL) — commenced real-time electricity market (RTM) on their platforms. RTM will help consumers purchase electricity just an hour in advance.

The RTM will have 48 auction sessions in a day, during which power generators with surplus capacity may sell anytime during the day.

In December 2019, the Central Electricity Regulatory Commission (CERC) approved the framework for RTM trading by power exchanges. Till now, the exchanges had day-ahead, week-ahead, and season-ahead markets, as well as renewable energy certificates trading.