Union power minister launches green term ahead market

The union minister launched the pan-India green term ahead market (GTAM) for electricity on September 1, 2020 through video conferencing. The move is expected to lead to an increase in the participants in the renewable energy (RE) sector. Further, the GTAM platform would lessen the burden on RE-rich states and incentivize them to develop RE capacity beyond their own RPO (Renewable Purchase Obligation).

The key features of GTAM include bilateral transaction (of RE) in nature with clear identification of corresponding buyers and sellers. GTAM contracts will be segregated into solar RPO and non-solar RPO as RPO targets are also segregated. Bidding will take place on MWh basis. Further, within the two segments GTAM contracts will have Green Intraday, Day Ahead Contingency, Daily and Weekly Contracts. Both buyers and sellers can submit the bids, however, the seller will provide profile in terms of 15-minute time block wise quantity (MW) along with the price (Rs/MWh). After the contract gets executed, scheduling will take place as per the profile. In case of multiple buyers, the profile will get allocated on a pro-rata basis.