Indian Energy Exchange, has launched its Real-Time Electricity Market (RTM) platform, with an intent to help discoms to better plan their power requirements.
IEX is largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates (RECs) and the RTM is an endeavor by the Central Electricity Regulatory Commission (CERC). With the RTM, the market regulator intends to make the power market dynamic by enabling trade in electricity through half-hourly auctions.
How the platform works
There will be 48 auction sessions during the day, with delivery of power within one hour of closure of the bid session, IEX said. This would aid distribution companies to manage power demand-supply variation and meet 24×7 power supply needs in a better manner.
IEX’s RTM is powered by the double-sided closed auction to ensure transparency, competitive price discovery to the market participants.