NSE and NCDEX promoted, Power Exchange India Ltd (PXIL) would be launching the Real Time Market (RTM) for electricity transactions from June 1.
The RTM provided by PXIL would ensure that buyers and sellers can purchase or sell electricity from anywhere across the country with just one hour’s prior notice. The entire transaction would be online and accessible from anywhere./p>
This would be the first exchange contract that would allow even generators with long-term power purchase agreements (PPAs) to participate on the exchange where they can sell their unutilised surpluses. This would also allow renewable energy generators, who may have unanticipated surpluses to sell such supply and earn revenues and in turn obtain Renewable Energy Certificates (RECs) as well./p>
This market on PXIL also has the provision for generators who may have faced a forced outage, to purchase power and fulfil their contractual commitments./p>
For the distribution companies, this would provide an opportunity to access the market to meet any last-minute sudden requirements, either due to unforeseen weather, unplanned events or even to access electricity at competitive rates to manage their overall power purchase portfolio more efficiently./p>
Commenting on the launch of RTM trading Prabhajit Kumar Sarkar, Managing Director & CEO, PXIL said, “PXIL’s Real Time Market (RTM) would be a game changer in the electricity market as it, for the first time, allows generators with even long term PPAs to participate in the vibrant power market of the country. The RTM would present to the distribution companies as well as both conventional and renewable generators a vibrant market-based platform to better manage their power requirements in a planned, efficient and transparent manner.”/p>
The RTM is designed as a half-hourly market, comprising of 48 auction sessions of 15-minute duration each. The auction sessions would be conducted during even time blocks of the hour, with delivery to commence from one-hour after the closure of trade session. The RTM provides double sided closed bid auction with uniform market clearing price./p>
PXIL’s RTM Trading platform can be accessed through its portal, Pratyay.