An Overview of Real-Time Electricity Market and Green Energy Trading in India

To manage the high load fluctuations arising from renewable energy integration, the Ministry of Power Govt. of India has launched real-time trading in the energy market. In this paper, we discuss the real-time market process, regulatory authorities, system balancing, prerequisites of RTM of India, and one of the prominent real-time energy markets in the world. The market process is based on bidding, and Indian market has a zone wised bidding system. In India, the energy is traded in two market platforms named Energy Exchange of India and Power Exchange of India Ltd. The energy market operations are unavoidably connected with the load dispatch centers as the market has to be cleared by considering the transmission corridor availability within the system. The power exchanges of India and the load dispatch centers are monitored and guided by the central electricity regulatory authority and Power Grid which is formerly known as the Power system operation corporation. The real-time power trading is done for 30 minutes, and the auction is open for 15 minutes, followed by market clearing after gate closure. In addition to the real-time market, this paper gives a brief overview of the green energy market window in Indian energy exchanges.