The Power Exchange India Limited (PXIL) and Indian Energy Exchange (IEX) launched their new real-time market (RTM) trading platforms for delivery of electricity on June 1, 2020. The RTM is expected to help distribution companies (discoms) and power generators to trade power with more flexibility on power exchanges with only an hour before actual delivery. The entire transaction would be online and accessible from any part of the country. As per a statement by PXIL,this exchange contract would allow generators with long term power purchase agreements to participate in the exchange where they can sell their un-requisitioned surpluses. Renewable energy generators, who may have unanticipated surpluses, would also be allowed to sell such supply and earn revenues and in turn obtain Renewable Energy Certificates.
The RTM platform being offered by PXIL is called ‘PRATYAY’. The first trade on the platform was conducted by the clients of Kreate Energy and PTC India. Distribution utilities from states of Telangana, Meghalaya, Manipur, Sikkim and Jharkhand participated in the initial auction sessions.An RTM platform has 48 auction sessions of 15 minutes each within a day. It aims to push electricity trade closer to real time. Using RTM, both sellers and buyers can continuously manage and optimise their portfolio through a transparent and efficient market.This will further help integrate more renewable energy such as wind and solar on the national grid, usher in competition and support grid balancing. In January 2020, Power Exchange India introduced PRATYAY, a new technology-based trading platform. PRATYAY offers trading in day-ahead spot, term ahead market, intra-day and day-ahead contingency in physical segment and REC trade in the environmental segment.