The Indian Energy Exchange announced the approval received on 17th August’2020 from the Central Electricity Regulatory Commission to launch the Green Term-Ahead Market (G-TAM) on its platform. The Exchange has already conducted a mock trading session on 18 August which witnessed good participation from its members and partners, plans to commence the trading from 21st August’2020.
As a signatory to the Paris Climate Agreement 2016, India has committed to install 40% i.e 450 GW of renewable capacity by the year 2030. The introduction of green markets on the Exchange platform is a significant milestone which will go a long way in facilitating consumers make a choice, accomplishment of national green capacity targets and enable the integration of renewable energy most flexibly and efficiently.
The market will offer a trade-in four types of green term-ahead contracts-Green Intra-day contracts, Day-ahead Contingency contracts, Daily Contracts and Weekly contracts. There will be separate contracts for Solar and Non-Solar energy to facilitate Solar and Non-Solar Renewable Purchase Obligations fulfilment.
Rajiv Srivastava, Managing Director and CEO, IEX said: “The energy ecosystem around us is evolving and a rapid transformation has been underway. The policymakers and regulatory authorities are pro-actively deliberating introduction of competitive market-based models towards meeting sustainable energy economy aspirations.”
He added: “CERC approval to introduce green market on Exchange platform is indeed a welcome, much-awaited and a landmark development from a holistic larger canvas of energy sector. As India moves towards building a sustainable energy economy, we are excited about this new chapter which offers a choice to consumers and will play a key role in achieving the national renewable aspirations.”
