New Delhi: Indian Energy Exchange (IEX) is in the process of seeking approval from the Central Electricity Regulatory Commission (CERC) for the launch of three new products, said its Chairman and Managing Director (CMD) Satyanarayan Goel. Speaking during a panel discussion titled, ‘Electricity Markets 2030: Digital, Decentralised & Decarbonised,’ at Bharat Electricity 2025 summit, Goel said that the three new products slated for launch are: Green RTM (Real-Time Market), 11-month contracts and peaking power contracts.
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IEX is India’s largest electricity exchange. Analyst reports in May this year said that the exchange is expected to log a double-digit volume growth in the current financial year that started in April, on the back of increasing sell side liquidity and launch of new products.
“The current financial year is likely to see a capacity addition of 11 GW on thermal side and up to 40 GW on renewable side that is expected to keep supply-side liquidity on exchanges strong, thereby driving down price discovery in key trading segments like Day Ahead Market and Real Time Market (RTM),” said analysts.
Goel said that the Green RTM market will lead to better utilisation of surplus power from upcoming FDRE (Firm and Dispatchable Renewable Energy) projects as deployment of Battery Energy Storage Systems (BESS) increases. In addition, IEX has submitted a petition to regulator CERC for an 11-month Long-Duration Contract (LDC). The long duration contract is aimed at offering greater flexibility for market participants, particularly distribution companies, by enabling longer-term contracts for more stable power procurement, said Goel.
Another petition has been filed by IEX with the CERC for peaking power contracts in two segments: real-time and day-ahead markets. High Price Day Ahead Market (HP-DAM) was introduced at IEX in March 2023, which allowed the high-cost generators, like coal-based power plants using imported coal, gas-based power plants using RNLG and Naphtha and Battery Storage System to participate in the market.
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“However, despite the clear demand-supply deficit in the market, buyers have not shown interest in HP-DAM, and to address this imbalance, there is a need to promote the flexible supply-side resources with rapid ramp-up and ramp-down capabilities, which can be catered to by the Battery Energy Storage Systems and Pumped Storage Plants. Accordingly, the Petitioner is seeking the approval to introduce Peak Day Ahead Market and Peak Real Time Market segments on its platform for providing separate segments under Integrated Day Ahead Market and Real Time Market, to facilitate participation of sellers with energy storage capability and to meet peak power requirements in the market,” an official record of proceedings published by CERC said.
