The Indian Energy Exchange (IEX) will allow real-time trading of electricity from June 1, a move that will facilitate better use of renewable energy.
Under the ‘real time market’ (RTM) product, auctions will be held 48 times a day. Every half an hour, auctions IEX “will run a market for 1 hour and 15 minutes” in which generators and purchasers of electricity will engage. Electricity producers who may see generation more than their committed demand, will offer to sell the surplus energy in the market. In the absence of this opportunity, they would have to back down generation. Likewise, buyers of electricity will offer to purchase. This is particularly useful to electricity distribution companies who may suddenly be faced with a shortage of supply because of, say, a turbine failure at a power plant.
