PXIL Kicks Off Real Time Market Trade for Power Transaction in India

PXIL Kicks Off Real Time Market Trade for Power Transaction in India

NSE and NCDEX promoted Power Exchange India Ltd (PXIL) has kick-started its first Real Time Market (RTM) trade in India for delivery of electricity effective from today i.e. June 01, 2020.

The first trade was conducted by clients of Kreate Energy Pvt Ltd and PTC India Ltd on the PXIL’s platform, and the initial auction sessions saw participation from distribution utilities from the states of Telangana, Meghalaya, Manipur, Sikkim and Jharkhand.

Further, the RTM is designed with an aim to help distribution companies (Discoms) and generators (Gencos) to trade power with even greater flexibly on power exchanges just one hour before the actual delivery.

Speaking on the launch, Prabhajit Kumar Sarkar, managing director and CEO of PXIL, said that “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.”

On the occasion, PXIL has invited all its Members and their clients to use its RTM Trading platform called ‘PRATYAY’ for better and efficient management of their portfolio through its Decision Support System available in PRATYAY.

PRATYAY offers trading in day-ahead spot, term ahead market, intra-day and day-ahead contingency in physical segment and REC trade in the environmental segment.

On the first day transactions, PXIL expected that 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.

Moreover, 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.

Additionally, this Real Time Market (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 was launched in 2008 and is the country’s first institutionally promoted Power Exchange promoted by NSE and NCDEX. Its electronic transaction platform facilitates the trading of electricity at a national level, with users ranging from state utilities and state procurement agencies, industrial consumers, independent power producers as well as captive power producers.

In January this year, PXIL had unveiled its new technology-based trading platform ‘PRATYAY’ with an aim to ease participation and provide customer delight for trading on the exchange.

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Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.