CERC Approves Framework of RTM Issued By PXIL

0
334

Central Electricity Regulatory Commission (CERC) has issued an order in concern with  approval of introduction of Real Time Market at Power Exchange India Limited and for the fair and transparent allocation of transmission corridor under the framework for Real Time Market.

Power Exchange India Limited (PXIL) filed petition against Power System Operation Corporation Limited  for approval of introduction of Real Time Market (RTM) at PXIL platform; to amend applicable regulations/procedures for equitable allocation of transmission capacity among power exchanges for RTM operated by the Petitioner and to include contract Specifications provided by PSOCL in these contracts in the approved Business Rules.

The PXIL has provided RTM contract specifications in Annexure P7 to be included in revised Business Rules as under: 

The above contract specifications have been detailed out in the Annexure P7 under following points: Auction Trade Session and Delivery Information, Trading Cycle, Margin, Settlement, Open Access from Load Dispatch Centers, Generator to Power in RTM, Transaction Fee, Deviation Settlement Charges, Power Supply & Scheduling, Force Majeure etc. 

The Commission has examined  the comments of stakeholders and observes that the design of RTM contracts submitted by PXIL is aligned with Power Market Regulations, Open Access Regulations and Indian Electricity Grid Code Regulations and that it has been suitably incorporated to the Business Rules for RTM.

The Commission not only accords approval for proposed RTM Contracts on the PXIL platform but also the Business Rules for RTM.

The commission directed PXIL to  file a copy of revised Business Rules and various forms/formats for data collection on RTM contracts for information of the Commission. 

It has also directed PXIL to follow the “Detailed Procedures for Scheduling of Collective Transactions through RTM ” issued by POSOCO from time to time.

PXIL should also  submit a report on the functioning of RTM on PXIL platform after one month from the date of issue of this order. 

On 28th May the commission has already decided the allocation of transmission corridors between the power exchanges for implementation of Real Time Market in electricity.

Power Exchange India Limited (PXIL) filed petition against Power System Operation Corporation Limited  for approval of introduction of Real Time Market (RTM) at PXIL platform; to amend applicable regulations/procedures for equitable allocation of transmission capacity among power exchanges for RTM operated by the Petitioner and to include contract Specifications provided by PSOCL in these contracts in the approved Business Rules.

The PXIL has provided RTM contract specifications in Annexure P7 to be included in revised Business Rules as under: 

The above contract specifications have been detailed out in the Annexure P7 under following points: Auction Trade Session and Delivery Information, Trading Cycle, Margin, Settlement, Open Access from Load Dispatch Centers, Generator to Power in RTM, Transaction Fee, Deviation Settlement Charges, Power Supply & Scheduling, Force Majeure etc. 

The Commission has examined  the comments of stakeholders and observes that the design of RTM contracts submitted by PXIL is aligned with Power Market Regulations, Open Access Regulations and Indian Electricity Grid Code Regulations and that it has been suitably incorporated to the Business Rules for RTM.

The Commission not only accords approval for proposed RTM Contracts on the PXIL platform but also the Business Rules for RTM.

The commission directed PXIL to  file a copy of revised Business Rules and various forms/formats for data collection on RTM contracts for information of the Commission. 

It has also directed PXIL to follow the “Detailed Procedures for Scheduling of Collective Transactions through RTM ” issued by POSOCO from time to time.

PXIL should also  submit a report on the functioning of RTM on PXIL platform after one month from the date of issue of this order. 

On 28th May the commission has already decided the allocation of transmission corridors between the power exchanges for implementation of Real Time Market in electricity.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.