India set to introduce Real-time Electricity Market from 1st June, 2020

India set to introduce Real-time Electricity Market from 1st June, 2020

The Central Electricity Regulatory Commission (CERC), India’s central regulator, amended three regulations (the Indian Electricity Grid Code Regulations, Power Market Regulations and Open Access in Inter-State Transmission Regulations) recently to introduce the framework of real-time markets. With these amendments, the real-time market will come into effect from June 1, 2020. USAID’s RISE Initiative, under the “Greening the Grid” bilateral program with the Ministry of Power assisted CERC in this endeavour. USAID RISE team assisted in carrying out detailed modelling exercises to establish outcomes; worked on validating various scenarios and options to refine the designs; assisted CERC in compiling and responding to comments from stakeholders by preparing and drafting the Statement of Reasons. Real-time market is a platform widely used across the world to integrate renewable energy and establishing one in India is expected to not only facilitate smooth integration of variable RE but also bring greater market efficiency and enable better resource utilization in the country. GTG-RISE is a key initiative under USAID’s Asia EDGE (Enhancing Growth and Development through Energy) and is implemented by Deloitte Consulting LLP. For more information on GTG-RISE Initiative, please visit www.gtg-india.com