Government of India has launched pan-India Real-Time Market in electricity in New Delhi on 3 June 2020. The real-time has placed the Indian electricity market amongst a league of few electricity markets in the world.
Real Time Market in electricity is an organized market platform to enable the buyers and sellers pan-India to meet their energy requirements closer to real-time operation.
The introduction of a real-time market will bring the 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 the national level.
The Government of India’s target of 175 GW Renewable Energy Capacity by 2022 is driving accelerated renewable penetration pan-India.
The real-time market would help to mitigate challenges to the grid management due to the intermittent and variable nature of renewable energy generation and therefore, help to integrate higher quantum of renewable energy resources into the grid.
The real-Time market would lead to cost optimization of power purchase and serving the consumers with reliable supply.
