CERC approves 24-hour power bourse trading

Power regulator CERC has extended the trading session time up to 24 hrs a day on energy bourses IEX and PXIL to help optimum utilisation of capacities by producers and distribution companies. In its order, the Central Electricity Regulatory Commission (CERC) has directed the Power Exchange of India Limited (PXIL) and Indian Energy Exchange (IEX) to start operation of extended market session by August 1. However, the two exchanges have already extended their market sessions.

“We expect the market to greatly benefit the distribution companies and generators manage and balance their systems better. The market will also facilitate the utilities in large-scale integration of renewable energy, especially wind and solar capacities as also envisaged by the government,” IEX said in a statement.

Following the CERC order, the IEX started offering trading in 24 hourly day-ahead contingency contracts and intra day contracts on a daily basis from July 20. At IEX, the intra-day market session were open from 10 am to 5 pm till July 19, which would now be operational between 12:30 am and 11:00 pm.