Chapter

Short-term Electricity Markets

Alok Kumar and Sushanta K. Chatterjee

in Electricity Sector in India

Published in print October 2012 | ISBN: 9780198082279
Published online September 2012 | e-ISBN: 9780199082063 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198082279.003.0006
Short-term Electricity Markets

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This chapter covers the legal and policy provisions about the short-term electricity markets in India. It presents the status of implementation of these provisions. Drawing on the data and statistics available, primarily with the Central Electricity Regulatory Commission (CERC), it describes various constituents of the short-term market, namely, traders, power exchanges, and the Unscheduled Interchange (UI). The chapter then analyses the issues regarding the role and impact of the electricity market. It deals with the UI mechanism in detail which is a unique intervention for handling the real time imbalances and enforcing grid discipline in India. The chapter presents a critical analysis of the various decisions of the Central Commission in promoting short-term markets and specifically discusses issues around Over the Counter (OTC) market and power exchanges. It also briefly touches upon the jurisdictional issues between the power sector regulator, namely, CERC and the forward contract regulator, namely, Forward Market Commission (FMC)

Keywords: India; electricity sector; Central Electricity Regulatory Commission; short-term market; power exchange; Unscheduled Interchange; electricity market; power sector regulator; forward contract

Chapter.  7875 words.  Illustrated.

Subjects: Economic Development and Growth

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