In news– The Union Minister of Power & New and Renewable Energy has launched the new market segment, Green Day Ahead Market (GDAM) recently.
About the portal-
- The portal offers an opportunity to the market participants to trade in green energy, in the most transparent, flexible, competitive, and efficient manner.
- Under this portal, the distribution utilities would also be able to sell surplus renewable power generated in their area.
- The obligated entities (distribution licensee, open access consumers and captive power consumers) would also be able to meet the Renewable Purchase Obligations (RPOs) target by directly buying green power from the power exchange(s).
- The non-obligated entities will be able to buy power on a voluntary basis and help increase the share of green power.
- The other benefits of participating in the GDAM would be reduction of curtailment of green power, unlocking untapped renewable energy potential, ensuring instant payment to RE generators i.e. on the day of delivery itself.
- National Load Despatch Centre (NLDC), POSOCO, as the Nodal Agency, has set up the latest technologies and communication infrastructure for facilitating the Green Day Ahead Market.
How does the portal work?
- The Green Day-ahead market will operate in an integrated way with the conventional day-ahead market.
- The Exchanges will offer the market participants to submit bids together for both conventional and renewable energy through the separate bidding windows.
- The clearance will take place in a sequential manner – renewable energy bids will be cleared first in accordance with the must run status of the renewables, followed by conventional segment.
- This mechanism will allow renewable energy sellers to subsequently bid in the conventional segment should their bids remain uncleared in the green market.
- There will be separate price discoveries for both the conventional and renewables.
Source: PIB
