MUMBAI: A real-time market (RTM) for power trading, which launches in India on Monday, can lead to major savings for both distribution companies (discoms) and power generators as they can now buy electricity in spot markets just an hour before delivery. With the RTM, ordering a few million units of power will be as simple as buying a meal online and the delivery will take just as long.
Indian power exchanges believe that nearly 20 billion units of power will be traded every year on the RTM, making up for errors in demand estimates and unpredictable generation patterns, building a more reliant electricity network in the country.
Last year, the Central Regulatory Electricity Commission (CERC), a key regulator for the Indian power sector, approved the launch of the RTM from 1 April.
