Minister of State (IC) Power and New & Renewable Energy Shri R. K. Singh on June 3, 2020 launched pan-India Real Time Market in electricity through video conference in New Delhi.
- This has placed Indian electricity market amongst a league of few electricity markets in the world, which have real time market.
- Real time market is an organized market platform to enable the buyers and sellers pan-India to meet their energy requirement closer to real time of operation.
- Introduction of real time market will bring required flexibility in the market to provide real time balance while ensuring optimal utilization of the available surplus capacity in the system.
- It will also help manage diversity in the demand pattern in the country with an organized market at national level.
- Real time market would be for every 30 minutes in a day based on double sided closed auction with uniform price.
- The concept of “Gate Closure” has been introduced for bringing in the desired firmness in schedules during the hours of market operation. Buyers/sellers shall have the option of placing buy/sell bids for each 15-minute time block.
