Real-Time Power Market Charging Up
Electricity trading through the newly launched real-time market (RTM) has gained instant traction, with nearly 140 million units (MUs) having been transacted in the first twelve days since its launch. The new platform is seen to help the growth of power transactions via exchanges, widening the scope for consumers to buy power at market-determined rates, sans long-term contracts The RTM system provides more operational flexibility to thermal power producers, who can sell additional power in the spot market when power distribution companies (discoms) procure lower volumes of electricity than what was scheduled by them. To their benefit, discoms now also have the option of buying power through RTM when renewable sources are not able to supply as promised due to the vagaries of nature. RTM provides 48 auction windows throughout the day on the power exchange platforms providing an opportunity to gencos and discoms to reduce reliance on trades based on the deviation settlement mechanism (DSM), and instead opt for the competitive trade in the open market.
Tags : ALLIED