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

Jan 02, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Central Electricity Regulatory Commission (CERC) on December 12, 2019, notifies the Central Electricity Regulatory Commission (Power Market) (Second Amendment) Regulations, 2019 to further amend the Central Electricity Regulatory Commission (Power Market) Regulations, 2010.

The amendments are made in Regulation 2, Regulation 4 and Regulation 11 of the CERC (Power Market) Regulations, 2010:-

Under Regulation 2, the following clauses are inserted:-

• Regulation 2(i)(ea)-“Collective Transaction” which means a set of transactions discovered in power exchange(s) through anonymous, simultaneous competitive bidding by buyers and sellers.

• Regulation 2(i)(eb)-“Continuous Transaction” means a transaction other than collective transaction, where the buy and the sell bids are matched on a continuous basis with price-time priority.

• Regulation 2(i)(ka)-“Day Ahead Market (DAM)” means a market for collective transactions of ‘Day Ahead Contracts’ through Power Exchange(s).

• Regulation 2(i)(na)- “Gate Closure” in reference to Real-Time Market refers to the time after which the bids submitted to the Power Exchange cannot be modified for a specified delivery period.

• Regulation 2(i)(o)-“Intraday Contract/Contingency Contract” means the contract where the transaction (not being a collective transaction) occurs on day (T) after the closure of day ahead transaction window and the delivery of power is on the same day (T) except for the duration of the specified period of delivery of the real-time market, or next day (T+1) and which is scheduled by Regional Load Despatch Centre or National Load Despatch Centre.

• Regulation 2(i)(cca)-“Real-time Contract” means the contract other than day ahead contract and intraday or contingency contract, where collective transactions occur on the day (T) or (T-1) after the right to revision of schedule ends for a specified delivery period during the day (T) and which are scheduled by Regional Load Despatch Centre or National Load Despatch Centre.

• Regulation 2(i)(ccb)-“Real-Time Market” means a market for collective transactions of Real time Contracts through Power Exchange(s).

These Regulations shall apply to Delivery based contracts transacted on Exchange as specified under Regulation 4:

a) Intraday contract /Contingency contract 

b) Day Ahead contract 

c) Term Ahead contract

d) Real Time Contract

These Regulations shall come into effect from April 01, 2020.

[Notification No. No. L-1/13/2010/CERC]


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