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Theoretically, it can be deduced that the market share of Indian Energy Exchange (IEX) will decline to 33.33% in due course of time with the implementation of market coupling, JM Financial said in a press note issued on July 30
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As India’s energy demand is expected to double by 2032, the Union minister highlighted the need of even higher RE financing to meet 50 percent of the expected rise in demand through renewable energy.
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CERC has cited that the tariff proposed by JSW Energy for the SECI project signed in January 2023 is much higher than what has been discovered in recent auctions.
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This comes days after the CERC on February 6 ordered for a shadow pilot on market coupling of India's power exchanges.
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A Power Grid Corporation (POWERGRID) official affirmed that they foresee "no repercussions" from the proposed adjustments in Operation & Maintenance (O&M) charges regulations by the Central Electricity Regulatory Commission (CERC).
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The CERC order, seen by Moneycontrol, however, also stated that coupling RTM and SCED would help increase the depth of the market while ensuring system reliability
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It would mean a uniform price for electricity across power bourses, but analysts say this will not have any immediate impact on the end user (household, industry or commercial).
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The new contracts, unlike the current three-month contracts, should help distribution companies to plan their procurement efficiently and well in advance
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"State governments are free to declare subsidies but they have to be paid for. Power is not free and it has to be paid for," the Union minister said.
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The latest version of the Grid Code mandates regular cybersecurity audits by all users. This is yet another step by agencies such as the Central Electricity Authority (CEA) and Central Electricity Regulatory Commission (CERC) to help prevent cyberattacks in the power sector.
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States and distribution companies have been asked to buy power aggregated from coal and gas-based plants that are older than 25 years.
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The report of the group on Development of Electricity Market in India 2023, which was headed by former secretary for power Alok Kumar, also stated that market coupling ensures bids and offers are combined to discover a single uniform market clearing price for a zone/bidding area
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The HP-DAM pricing has been established with a floor price of zero to mitigate any adverse impact on the integration of renewable energy in the national grid.
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In the present scenario, buyers and sellers at each exchange do trading of electricity and discover spot price separately at these exchanges. After coupling of exchanges, the price discovery would be uniform.
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Market coupling is a must to bring a Market-Based Economic Dispatch (MBED) mechanism in India, which in turn will help in the reduction of power tariffs as it will increase flexibility and liquidity in the trade of electricity in the country.
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The Deviation Settlement Mechanism (DSM) rules for the wind industry, and the General Network Access (GNA) rules issued by CERC last year were the biggest triggers for the Power Ministry's directive, officials told Moneycontrol.
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Besides, the Central Electricity Regulatory Commission (CERC) has also slashed the price ceiling for the high price day ahead market (HP-DAM) from Rs 50/kWh to Rs 20 per unit, the latest CERC order accessed by Moneycontrol showed. Both the revised price caps came into effect from April 4.
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The CERC is responsible for regulating and determining tariffs of inter-state transmission of electricity, issuing licences to persons to function as transmission licensee and electricity trader with respect to their inter-state operations
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Moneycontrol was the first to report that Central Electricity Regulatory Commission's nod to HP-DAM market was expected anytime and IEX will launch it next month
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The government intends to roll out HP-DAM soon so as to meet the spurt in power demand that is expected during the summer months. In April-May last year, many states in the country faced hours of outages because of an unrelenting surge in power demand due to a sudden heatwave, rapid economic recovery and shortage of coal to generate power.
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The order is also beneficial for the CGPL Mundra Plant as it can now recover the full cost incurred for supplying power in terms of the MoP Section 11 directions, Tata Power said in a statement after the CERC order.
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While the introduction of the GNA framework is a welcome move, any apprehension about the accompanying connectivity rules needs to be addressed
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CERC, in its order, said buy bids on power exchanges have been more than double of the sell bids, indicating higher demand and lower supply.
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If states come on board, general network access can usher in the much-awaited ‘one nation, one grid’ concept in the country
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The statement came a day after the Supreme Court disposed of the long-pending matter between the SEBI and the CERC regarding regulatory jurisdiction of electricity derivatives.
