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PXIL To Launch RTM From 1st June 2020

RTM will provide optimal efficient price discovery and order matching across India, said the company.

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Power Exchange India Limited (PXIL) is all set to bring the Real-Time Market (RTM) for electricity transactions from 01st June 2020.

The Real-Time Market (RTM) provided by PXIL would ensure that Buyers and Sellers can purchase or sell electricity from anywhere across the country with just one hour’s prior notice. The entire transaction would be online and accessible from any corner of the country.

This would be the first exchange contract that would allow even generators with Long Term PPAs to participate on the exchange where they can sell their unrequisitioned surpluses. This would also allow renewable energy generators, who may have unanticipated surpluses to sell such supply and earn revenues and in turn obtain Renewable Energy Certificates (RECs) as well. This market on PXIL also has the provision for generators who may have faced a forced outage, to purchase power and fulfil their contractual commitments.

For the Discoms, this market would provide a golden opportunity to access the market to meet any last minute sudden requirements, either due to unforeseen weather, unplanned events or even to access electricity at competitive rates to manage their overall power purchase portfolio more efficiently.

The RTM is designed as a half-hourly market, comprising of 48 auction sessions of 15-minute duration each. The auction sessions would be conducted during even time blocks of the hour with delivery to commence from 1-hour after the closure of trade session. The RTM provides Double Sided Closed Bid Auction with Uniform Market Clearing Price.

Commenting on the launch of RTM trading Prabhajit Kumar Sarkar, MD & CEO of PXIL said, “PXIL’s Real Time Market (RTM) would be a game changer in the electricity market as it, for the first time, allows Generators with even Long Term PPAs to participate in the vibrant power market of the country. The RTM would present to the Discoms as well as both conventional and renewable generators a vibrant market based platform to better manage their power requirements in a planned, efficient and transparent manner.

The Real Time Market would thus provide a platform where generation capacity would be available from all types of sources and enable the Discoms to balance the demand in their systems even at the last moment.

This would go a long way in fulfilling the objective of utilising efficient power markets for balancing the power system across the country.”

Tags assigned to this article:
PXIL Real Time Market (RTM) electricity