CERC proposes framework for Real-Time Market for Electricity

Aug 08, 2019 | by Avantis RegTech Legal Research Team

The Central Electricity Regulatory Commission (CERC) on August 06, 2019, has proposed the framework for Real-Time Market for Electricity in order to create a market platform for trade of energy closer to the delivery of power in real time.

The silent features of the proposed Real-Time Market (RTM) for Electricity are as under:

Ø  Real Time Market will be a half hourly market

Ø  Price discovery mechanism will be double sided closed auction with uniform price.  

Ø  The concept of gate closure is proposed to be introduced, with timeline in consonance with half hourly market. 

Ø  Buyers/sellers would have the option of placing buy/sell bids for each fifteen minute time block in the half hourly real time market. The generators having long-term contract and participating in this market will be required to share the net gains (after accounting for the energy charge) with the discoms in the ratio of 50:50 as per the stipulation of the Tariff Policy, 2016.

Ø  RTM would be financially and physically binding. If the utilities fail to follow the dispatch instruction post RTM, it will attract charges under Deviation Settlement Mechanism

Accordingly, CERC publishes proposed Draft amendments to the enabling provisions contained in:

(i)            Central Electricity Regulatory Commission (Indian Electricity Grid Code) (Sixth Amendment) Regulations, 2019;

(ii)          Central Electricity Regulatory Commission (Power Market) (Second Amendment) Regulations, 2019;

(iii)         Central Electricity Regulatory Commission (Open Access in inter-State Transmission) (Sixth Amendment) Regulations, 2019

CERC invites comments / suggestions / objections from the stakeholders and interested persons on the draft regulations. The comments / suggestions / objections may be sent by September 05, 2019 ([email protected] and [email protected]). The comments/suggestions/objections shall also be uploaded through SAUDAMINI Portal for registered users after login and clicking: e-Regulation link on the e-filing Home Page. For more details or technical queries e-Court Helpdesk at 011-23353503 extn. 260 or 7042604928 may be contacted.

[Public Notice No. RA-14026(11)/2/2018/CERC]


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