After IEX, PXIL launches its Green Term Ahead Market

Power Exchange India Ltd (PXIL)launched the Green-Term Ahead Market (GTAM) on its transaction platform on March 24, 2021 after receiving approval for the same from the Central Electricity Regulatory Commission (CERC) on March 19, 2021. In GTAM, PXIL will offer two types of contracts – Intra-day Contracts and Any-day Contracts. These will be offered in both solar as well as non-solar segments. Intraday Contracts are static contracts with pre-defined delivery slots to place bids. Meanwhile, Anyday Contracts are dynamic contracts with user selected slots for the days of delivery as well as delivery during the day. The combination of these contracts covers the delivery period starting from a few hours up to 11 days from the trade.

GTAM contracts will allow the renewable power generators the flexibility to map their generation profile and will provide them access to a pan-India market. At the same time, buyers will get renewable energy at competitive prices through a transparent and flexible procurement avenue. Further, it will also help them in meeting their renewable purchase obligations.

Prior to this, CERC gave approval for the launch of the Indian Energy Exchange’s (IEX’s) GTAM, through an order dated August 17, 2020.IEX had filed a petition with the CERC regarding the same in 2018. According to a previous statement by IEX, market participants will be able to trade in four types of GTAM contracts on IEX platform as approved by the regulator. These are: green intra-day contracts, green day-ahead contingency contracts, green daily contracts and green weekly contracts.

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