Power Exchange India Ltd (PXIL) on Monday unveiled a technology-based trading platform, PRATYAY, which is compatible to handle real-time power market (RTM) and cross-border electricity trading.
"The PRATYAY is capable of handing RTM and cross-border. We are waiting for the Central Electricity Authority (CEA) to release the guidelines or standard procedures for RTM and cross border trading," PXIL Managing Director and Chief Executive Officer Prabhajit Kumar Sarkar said on the sideline of a presser here.
The platform has been made live from Monday.
"The RTM is expected to begin from April. But for making cross-border power trading a reality, India has to align its procedures or regulations with other countries. Initially India is expected to start cross-border trading with Nepal, Bangladesh and Bhutan," Sarkar said.
The RTM will allow consumers including discoms or captive users, to buy power at exchanges just one hour before delivery.
At present, consumers can buy power one day prior in Day Ahead Market (DAM) at power exchanges where trading is done for two hours daily from 10 am to 12 noon.
The power regulator Central Electricity Regulatory Authority (CERC) has already approved the regulation for RTM. But the exchanges had to develop software programme to do that. Besides standard procedures or guidelines for the RTM is awaited from the CEA.
Sarkar said that besides getting ready for RTM and cross-border trading, the PRATYAY will help us improve market share in DAM, term ahead market and certificate sales (green certificates and Energy Saving Certificates).
The tech-enabled platform aims to ease participation and provide customer delight for trading on the exchange. The new service provides a single platform for all segments and offers hassle-free migration from thick client-based solution to a complete web-based solution with many other benefits.
The PXIL is promoted by NSE (National Stock Exchange of India Ltd) & NCDEX (National Commodity and Derivatives Exchange).
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)