Power Exchange India Limited (PXIL), promoted by NSE and NCDEX, kick-started its first Real Time Market (RTM) trade in India for delivery of electricity from 01st June 2020.The first trade conducted on PXIL’s platform were from clients of Kreate Energy Private Limited and PTC India Limited. The initial auction sessions also saw participation from distribution utilities of Telangana, Meghalaya, Manipur, Sikkim and Jharkhand.
The RTM is designed to help distribution companies and generators to trade power with even greater flexibly on Power Exchanges just one hour before the actual delivery.PXIL takes this opportunity to thank all its Members and their clients for their participation and invites them to fully utilize the services offered by PXIL for better and efficient management of their portfolio through our Decision Support System, available to all Members in our trading platform PRATYAY. PRATYAY offers trading in Day Ahead Spot, Term Ahead Market, Intra-day and Day Ahead Contingency in physical segment and REC trade in environmental segment.
Commenting on the launch, Mr. Prabhajit Kumar Sarkar, MD & CEO of PXIL said, “The Real Time Market is a major evolutionary change in the dynamics of the power market in our country. With RTM, both sellers and buyers now get an opportunity to continuously manage their portfolio optimally through a transparent and efficient marketplace.”
The traction from the first day itself indicates that this product meets the requirement of the entire sector and the liquidity is only going to increase further in the coming months.
This is the first exchange contract that would allow even generators with Long Term PPAs to participate on the exchange where they can sell their unrequisitioned surpluses. The RTM is designed as a half-hourly market, comprising of 48 auction sessions of 15-minute duration each. The auction sessions would be conducted during even time blocks of the hour with delivery to commence from 1-hour after the closure of the trade session. PXIL’s RTM Trading platform can be accessed through its portal – PRATYAY.